Puts Purchased on Nexen (NXY)

Shares of Nexen Inc.

are higher on the session by 0.86%, currently trading at $19.95. The stock has been moving solely lower over the past six months, off from recent highs near $26.50. Options traders are buying puts on the name today as well, perhaps as a hedge to long shares. A short while ago the December $20.00 put was purchased 1,200 times, on the offer, on open interest of 1,091 contracts. This signals new positioning on the NXY. Put volume is now running at 8.11x the daily average with 80% of all puts traded being purchases on the offer. Nexen Inc. is an independent, Canada-based global energy company. It operates in three segments: oil and gas, energy marketing, and chemicals. The oil and gas operations include the UK North Sea, Canada, Syncrude, US Gulf of Mexico, Yemen and Other International (Colombia, offshore West Africa and Norway). Energy marketing includes the crude oil, natural gas, natural gas liquids and power marketing businesses in North America, Europe and Asia. For more great research like this, as well as how to play it through options…please visit

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