Petrohawk Energy Corporation (HK) $29.96 +15.46%
Calls on Petrohawk Energy (HK) are seeing active trading. Total volume is running 7 times the usual, with 25,000 call contracts trading, or roughly five times the number of puts. The stock is up $3.87 to $28.82 in sympathy with Penn Virginia (PVA). Shares of Penn Virginia rallied $10 to $63.00 a share after the company announced that its first well in the Haynesvill Shale produced double the firm’s expectations. The news has positive implications for HK because the company has agreements to buy leasehold intersts in the same area. Comstock Resources (CRK) is also considered a play on the same theme.
Category: All Stocks, Mid Cap Stocks, Oil & Gas Producers
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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.
