Picking Profits With Harvest Natural (HNR)
October 01, 2010 1:25 PM
Shares of Harvest Natural Resources, Inc. (NYSE: HNR) are higher on the session by 1.25%, currently trading at $10.55. The stock has been moving higher over the past few months, accelerating the run to the upside as of late, on high volume.
The company recent announced that they have retained a BofA Merrill Lynch advisor to explore “strategic alternatives.”
Options traders are buying calls on the stock today. A short while ago the December $10.00 call was purchased 1,000 times, on the offer, for $1.80. Volume exceeded open interest on the strike.
Cal volume is running at 6.4x the daily average, 99% on the offer.
Harvest Natural Resources, Inc. is an international petroleum exploration and production company. The company focuses on acquiring exploration, development and producing properties in geological basins with proven active hydrocarbon systems.
For more great research like this, as well as how to play it through options…please visit Benzinga's Options & Volatility Edge and Benzinga's Cash Generator.
