Calls Purchased on GMX Resources Inc. (GMXR)
February 24, 2011 2:46 PM
Shares of GMX Resources Inc. (NASDAQ: GMXR) are higher on the session by 6.44%, currently trading at $4.96. The stock has been moving largely lower over the past two months and is currently trading below the 50-day and 200-day moving averages.
Options traders are buying calls on the name today. A short while ago the March 2011 $5.00 call was purchased 1,400 times, on the offer, on open interest of 3,618 contracts. The Mar 2011 $6.00 also traded 1,000 times on open interest of 350 contracts.
Overall call volume is now running at 3.54x the daily average with 90% of all calls traded being purchases on the offer.
GMX Resources Inc. is a pure play independent oil and natural gas exploration and production company. The company is focused on the development of Haynesville/Bossier Shale and Cotton Valley Sands in the Sabine Uplift of the Carthage, North Field of Harrison and Panola counties of East Texas.
