Notable Put Options Activity in McMoRan Exploration

Shares of McMoRan Exploration

are higher on the session by 0.87%, currently trading at $13.96. The stock has been moving largely higher over the past three weeks and is currently trading above the 50-day moving average. Options traders are focusing on puts today. The strike seeing the heaviest action is the April 2012 $12.00 put, which has traded 15,200 times on open interest of 0 contracts. The March 2012 $13.00 put also traded 10,300 times on 11,364 contracts. Put volume is outpacing call volume by 5 to 1. McMoRan Exploration Co. is engaged in the exploration, development and production of oil and natural gas offshore in the Gulf of Mexico and onshore in the Gulf Coast area of the United States.