Puts Sold in XTO Energy

Shares of XTO Energy Inc. (NYSE: XTO) are trading higher on the session by 0.38%, currently at $44.72. The stock has recently fallen through the 50-day moving average and is now fighting to hold the 200-day moving average.

Traders are betting that the slide will abate and are taking profits on their long puts today with the January 2011 $40 put sold on the bid 1,000 times for $1.91 and the January 2011 $35 put was sold 1,000 times for $0.93.

Volume did not exceed open interest on either strike, which suggests that positions were closed.

XTO Energy Inc., along with its subsidiaries, are engaged in the acquisition, development, exploitation and exploration of both producing oil and gas properties and unproved properties, and in the production, processing, marketing and transportation of oil and natural gas