Denbury Resources (DNR) adds 48 cents to $15.91 and Nov 17 calls on the Plano, TX oil and gas company are seeing interest ahead of earnings. Volume is approaching 9,000 against 5992 in open interest. The action includes a multi-exchange sweep of 2,169 at the 45-cent asking price and sentiment data indicate customers are buying to open positions. The contract is 8.2 percent OTM with a .36 delta. Meanwhile, implied volatility in DNR options is up 7 pecent to 72.5 ahead of the results, due out tomorrow morning.
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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.