Notable Put Options Activity in Brigham Exploration

Shares of Brigham Exploration BEXP are lower on the session by 0.03%, currently trading at $36.38. The stock has been moving largely higher over the past three months and is currently trading above the 50-day moving average. Brigham Exploration is currently scheduled to be acquired by Satoil STO for $36.50 in cash in late 2011 – early 2012. Options traders are focusing on puts today. A short while ago the January 2012 $36.00 put traded 640 times on open interest of 4,629 contracts. Small lots are active on the name today. Put volume is outpacing call volume by 8 to 1. Brigham Exploration Company is an independent exploration, development and production company that utilizes advanced exploration, drilling and completion technologies to systematically explore for, develop and produce domestic onshore crude oil and natural gas reserves.