Notable Options Activity in Chesapeake Energy Corporation

Shares of Chesapeake Energy Corporation

are lower on the session by 8.5%, currently trading at $17.47 Option volatilities are higher with April +32.3 points, May +13.3 points, and June 8.2 points. The strike seeing the heaviest action is the April 2012 $18.00 put, which has traded 9,500 times on open interest of 4,700 contracts. There is a story about the CEO taking out loans on to finance stakes in some of the company's wells.