Calls Purchased on Forest Oil

Shares of Forest Oil FST are higher on the session by 0.82%, currently trading at $25.92. The stock has been moving largely lower over the past three months and is currently trading below the 50-day moving average. Options traders are buying calls on the name today. A short while ago the September 2011 $28.00 call traded 4,000 times on open interest of 284 contracts. Overall call volume is now running at 2.29x the daily average with 89% of all calls traded being purchases on the offer. Forest Oil Corporation is an independent oil and gas company engaged in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in North America.