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Shares of Helmerich & Payne
HP are higher on the session by 1.95%, currently trading at $49.43. The stock has been moving largely higher over the past six months and is currently trading above the 50-day and 200-day moving averages.
Options traders are buying calls on the name today. A short while ago the January 2012 $50.00 call was purchased 1,460 times, on the offer, for $6.50 on open interest of only 79 contracts. This signals new positioning on the name.
Overall call volume is now running at 4.45x the daily average with 99% of all calls traded being purchases on the offer.
Helmerich & Payne, Inc. is engaged in contract drilling of oil and gas wells for others. The contract drilling business is composed of three business segments: U.S. land drilling, offshore drilling and international land drilling.
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