Calls Purchased on Gran Tierra Energy (GTE)
January 18, 2011 3:00 PM
Shares of Gran Tierra Energy (NYSE: GTE) are lower on the session by 1.18%, currently trading at $8.37. 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. Though action has been primarily in small lots, overall call volume is now running at 5.12x the daily average with 77% of all calls traded being purchases on the offer.
Traders are buying the $5.00, $7.50, and $10.00 strikes in multiple months.
Gran Tierra Energy Inc. is an independent energy company engaged in oil and gas exploration, development and production. The company owns oil and gas properties in Colombia, Argentina and Peru. During the year ended December 31, 2009, the company's geographic focus was on South America.
