BJ Services Co (BJS) $29.14 -1.24%
Calls on BJ Services Co. (BJS) are active this morning. The stock hit its lowest levels in almost four years in mid-January when it fell to $19.30 a share. Howover, BJS has outperformed over the past few months and is now testing $30.00 a share. It appears that some traders expect the strength to continue, as a large block (12,600) of BJS October 35 calls were purchased for $1.45 a contract on the PHLX early in the trading session. The activity is perhaps part of a bullish spread on the oil service company. Crude was trading up almost $3.00 to $109 a barrel Monday morning.
Category: All Stocks, Mid Cap Stocks, Oil Equipment, Services & Distribution
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About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.
