Relative strength and increasing call acivity in natural gas producer Williams Companies (WMB), even as natural gas (March) loses 10 cents to $4.33 on bearish weekly inventory data. WMB is up 20 cents to $27.34 and the top trade is 8100 FEb 30 calls at 11 cents when the market was 7 to 11 cents. It was part of sweep of 10000 contracts. The action also includes a multi-exchange sweep of 4000 Feb 29 calls at 24 cents, which is an opening customer buyer, according to sentiment data from the ISE. 18000 calls and 1400 puts now traded in WMB. Implied volatility is up 3 percent to 33. Earnings slated for the morning of Feb 17, which is the Thrusday before the expiration.
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.