Calls Purchased on W&T Offshore (WTI)
November 02, 2010 2:24 PM
Shares of W&T Offshore, Inc. (NYSE: WTI) are higher on the session by 17.19%, currently trading at $12.61. The stock has been moving largely higher over the past six months and has recently broken out, above the 50-day and 200-day moving averages.
Options traders are buying calls on the name today. Though action ahs been primarily in small lots, overall call volume is now running at 15.04x the daily average with 97% of all calls traded being purchases on the offer.
Traders are buying the $12.50 and $15.00 strikes in multiple months.
W&T Offshore, Inc. is an independent oil and natural gas producer engaged in the acquisition, exploitation, exploration and development of oil and natural gas properties in the Gulf of Mexico. The company has acquired rights to develop and exploit new prospects, and has acquired existing oil and natural gas properties in both the deepwater and the deep shelf, while at the same time continuing its focus on the conventional shelf.
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