Exco Resources Inc (XCO) $10.55 +4.04%
Exco Resources (XCO) sees a second day of bullish order flow. Shares were up yesterday and options on the stock were actively traded on reports Wilbur Ross increased his stake in the company (see 12/29 color). XCO is up another 40 cents to $10.54 today. Options volume on Dallas, TX energy company includes about 6,000 calls and 800 puts. Mar 10 calls, which are now 54 cents in-the-money, are the most actives. 1,400 contracts changed hands. Feb $12, Jan $13, and Feb $13 calls are actively traded as well. Implied volatility in the options on the stock is up 14.5 percent to 72, as call buyers seem to be dominating the action for a second day and looking for additional gains in the underlying over the next few weeks.
Category: All Stocks, Mid Cap Stocks, Oil & Gas Producers
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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.
