Calls Purchased on Gran Tierra Energy (GTE)

Shares of Gran Tierra Energy

are higher on the session by 0.51%, currently trading at $7.89. The stock has been moving largely higher over the past six months, and is currently trading above the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A short while ago the February 2011 $10.00 call was purchased ~1,400 times, on the offer, on open interest of only 978 contracts. This signals new positioning on the name. Overall call volume is now running at 9.00x the daily average with 91% of all calls traded being purchases on the offer. Gran Tierra Energy Inc. is an independent energy company engaged in oil and gas exploration, development and production. The company owns oil and gas properties in Colombia, Argentina and Peru.