Murphy Oil (MUR) sees a second day of bullish trading this week. Shares are up 39 cents to $68.58 and the focus is on Oct 80 calls on the El Dorado, AR oil and gas company. 11,557 traded (85 percent Ask) against 335 contracts in open interest. Looks like opening call buyers. Another 4,360 Aug 72.5 calls changed hands and also looks like upside call buying. Briefing cites M&A chatter. Murphy Oil was also the subject of bullish flow earlier this week and last Thursday as well (see 7/14 and 7/20 color).
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.