Sandridge Energy (SD), the Oklahoma City oil and gas company, is up 18 cents to $8.12 and options are seeing brisk trading, with 20K calls and 2300 puts on the tape so far. April 9 calls are the most actives. 8670 traded (21% Bid / 62% Ask) vs. 2282 in open interest. Implied volatility is up about 13 pecent to 61.5. June 12 calls and June 9 straddle seeing interest as well. No news on the company today, but the overall action seems to reflect expectations for heightened volatility in SD shares with a directional bias to the upside.
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.