Schaeffer's Option Blog: Call Trading Spiked on El Paso (EP)
CINCINNATI-(Business Wire)-August 25, 2009 - El Paso (NYSE: EP) was the focus of some brisk options trading on Monday, as more than 51,300 contracts crossed the tape, according to data from WhatsTrading.com. This surge in volume was more than nine times the stock's average daily trading volume of 5,483 contracts. Furthermore, traders showed a preference for calls, as more than 89% of the volume changed hands on the call side.
Options players have been optimistic toward the shares, as the Schaeffer's put/call open interest ratio for EP stands at 0.18. This low reading indicates that call options are five times more popular than put options among contracts that expire in less than three months. In addition, this ratio is lower than 99% of all those taken during the past year, indicating that short-term options players have been more optimistic toward the shares only 1% of the time.
To continue reading this article, click here: http://www.schaeffersresearch.com/marketcenters/optionscenter/default1.aspx?id=94805&source=businesswire
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