Range Resources (RRC), the Forth Worth, TX oil and gas company, is up 10 cents to $35.49 and options volume is 5X the average daily, with about 10K calls and 470 puts traded on the ticker so far. Oct 37 calls are the most actives. 3,970 traded (60 percent ask) vs. 1,490 in open interest. Looks like opening buyers in Oct 34 and 38 calls as well. Shares have been on the move today amid unsubstantiated takeover speculation. Implied volatility is up 5.5 percent to 39, as players in the options market seem to be reacting to the chatter as well.
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.