Call buyer steps on gas with Denbury
Mike Yamamoto | firstname.lastname@example.org
optionMONSTER's Heat Seeker tracking system detected the purchase of 2,000 January 16 calls in an 8-minute span yesterday, mostly for $0.68. The volume was well above the strike's open interest of 596 contracts at the start of the session, so this is clearly a new position.
DNR rose 0.5 percent to close at $16 even. Shares of the oil and natural-gas exploration company bounced at $14.24 on Nov. 15 and have been trending higher since then, climbing above their 100-day moving average in the last two sessions.
Yesterday's long calls are looking for DNR to gain roughly 4.25 percent by expiration in mid-January. Overall calls in the name outnumbered puts by 24 to 1, a reflection of the bullish sentiment. (See our Education section)