Bulls Drilling for Gains With Anadarko (APC)

Shares of Anadarko Petroleum Corporation (NYSE: APC) are higher on the session by 3.40%, currently trading at $50.45. The stock has been moving largely lower over the past six months, though has been moving largely higher over the past few weeks and is hovering around the 50-day moving average.

Options traders are buying calls on the name today, in size, in nearly every single contract month. As of now, over 36,000 calls have traded versus only 8,000 puts. Trades have occurred primarily on the offer, which signals bullish buying.

Call volume is running at over 2.25x the daily average.

Anadarko Petroleum Corporation is an independent oil and gas exploration and production company, with 2.3 billion barrels of oil equivalent of proved reserves as of December 31, 2009. The company operates in three operating segments: Oil and gas exploration and production, Midstream and Marketing. The Oil and gas exploration and production segment explores for and produces natural gas, crude oil, condensate and natural gas liquids. The Midstream segment provides gathering, processing, treating and transportation services to Anadarko and third-party oil and gas producers.