DryShips Draws Heavy Early Call Volume (DRYS)

Shares of DryShips Inc. DRYS are higher on the session by 2.23%, currently trading at $5.50. The stock has been moving largely higher over the past three months and is currently trading above the 50-day and 200-day moving averages. Traders are flocking to call on the name this morning; within the first 20 minutes of trading DRYS has already traded its daily average of call contracts. Currently, 13,000 calls have traded versus only 625 puts. The heaviest action is coming in January, where the $5.50 strike has turned over 7,800 contracts on open interest of 23,178 contracts. The January $5.00, January $6.00, and February $6.00 strikes are also active. DryShips Inc. is a holding company. The company is engaged in the ocean transportation services of drybulk cargoes worldwide through the ownership and operation of the drybulk carrier vessels and deepwater drilling rig services through the ownership of ultra-deep water drilling rigs