Frontier Oil (FTO) is up $2.28 to $30.21 on two times its normal trading volume in the options market. Speculative call buying continues following yesterdays chatter that Suncor Energy (SU) might be looking at the company. (see /color FTO). In all, 11,000 FTO call options and 3,600 puts have traded so far today.
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.