Exco Resources (XCO) adds 30 cents to $6.07 and a 5450-lot of May 6 calls trades on the Dallas, TX oil and gas company for 45 cents when the market was 35 to 45 cents. Another 3,942 also traded for 45 cents when the bid-ask was 40 to 50 cents. Total volume is 13,800 and the market is now 50 to 60 cents. Players are possibly bottom-fishing in the name. Shares, which fetched more than $21 less than a year ago, touched a 52-week low of $5.69 intraday Monday. Earnings come into play on May 1.
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.