Calls Purchased on Newfield Exploration Company (NFX)
March 16, 2011 1:49 PM
Shares of Newfield Exploration Company (NYSE: NFX) are lower on the session by 0.82%, currently trading at $69.11. The stock has been moving largely sideways over the past four months and is currently trading below the 50-day moving average.
Options traders are buying calls on the name today. A short while ago the April 2011 $80.00 call was purchased 1,000 times, on the offer, on open interest of 154 contracts.
Overall call volume is now running at 3.32x the daily average with 74% of all calls traded being purchases on the offer.
Newfield Exploration Company is an independent oil and gas company engaged in the exploration, development and acquisition of oil and gas properties. The company's domestic areas of operation include the Anadarko and Arkoma Basins of the Mid-Continent, the Rocky Mountains, onshore Texas and the Gulf of Mexico.
