Calls Purchased on Concho Resources
Shares of Concho Resources (NYSE: CXO) are lower on the session by 1.21%, currently trading at $94.25. The stock has been moving largely lower over the past four months, but it is currently trading above the 50-day moving average.
Options traders are buying calls on the name today. A short while ago the September 2011 $100.00 call traded 505 times on open interest of 132 contracts. Overall call volume is now running at 3.16x the daily average with 93% of all calls traded being purchases on the offer.
Concho Resources Inc. is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties.
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