Energen (EGN) is seeing four times its normal trading volume on increasing call buying in the January 75s. The stock is up 42 cents to $73.68. In all, 4500 have traded, compared to only 443 put options. Sentiment based on today’s trading activity is 92 percent bullish. There isn’t any news of late, but we note that the open interest in the January 75 calls is 15,632 and 15 times greater than any other EGN options contract.
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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.