Calls Purchased on Dresser-Rand Group (DRC)
November 03, 2010 12:32 PM
Shares of Dresser-Rand Group Inc. (NYSE: DRC) are higher on the session by 1.99%, currently trading at $35.84. The stock has been moving largely higher over the past six months, though recently sold off hard. It appears that it has passed a test of the 200-day moving average and is now indicated higher.
Options traders are buying calls on the name today. A short while ago the December $40.00 call was purchased 1,350 times, on the offer, for $0.35 on open interest of 3,024 contracts. The March 2011 was also purchased 1,000 times on open interest of only 623 contracts.
Overall call volume is now running at 3.75x the daily average with 84% of all calls traded being purchases on the offer.
Dresser-Rand Group Inc. is the global supplier of custom-engineered rotating equipment solutions for the applications in the oil, gas, petrochemical and industrial process industries.
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