Calls Purchased on BPZ Resources, Inc. (BPZ)
Shares of BPZ Resources, Inc. (NYSE: BPZ) are lower on the session by 1.67%, currently trading at $4.49. 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 September 2011 $6.00 call was purchased 1,500 times, on the offer, for $0.35 on open interest of only 397 contracts. This signals new positioning on the strike.
Overall call volume is now running at 7.34x the daily average with 89% of all calls traded being purchases on the offer.
BPZ Resources, Inc. is an independent oil and gas company focused on the exploration, development and production of oil and natural gas in Peru and Ecuador. The company has the exclusive rights and license agreements for oil and gas exploration and production covering approximately 2.2 million acres in four blocks in northwest Peru and off the northwest coast of Peru in the Gulf of Guayaquil.
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