Mariner Energy (ME) shares sank in volatile morning trading on reports of an explosion on one the company’s oil rigs in the Gulf of Mexico. ME sank to $19.62 and were recently down $1.04 to $22.31, and 13.7 percent off (register to read more …) [...]

read more from this topic.....

Bullish flow detected in Anadarko Petroleum (APC), with 23,850 calls trading, or 2x the recent avg daily call volume in the name. Shares are up $1.81 to $50.50 after The Australian published a story saying that APC is on BHP’s (register to read more …) [...]

read more from this topic.....

Occidental Petro is down 50c to $72.40, down some 15% in the past month, and near its lowest level of the year. A notable trade in the name today is in the November $65/80 risk reversal, 4,000X, in what looks (register to read more …) [...]

read more from this topic.....

Anadarko Pete (APC) loses 72 cents to $47.98 and a noteworthy spread in the driller midday Monday is a Nov 50 – 55 put spread, sold at $3.08, 4000X on PHLX. It was tied to 64K shares at $48.25 and, (register to read more …) [...]

read more from this topic.....

Petrohawk (HK), which was the subject of a bullish three-way trade yesterday (see 8/20 color), is off 59 cents to $15.27 and some players seem to be seizing the weakness in shares of the Houston, TX oil and gas driller (register to read more …) [...]

read more from this topic.....

ExxonMobile sees Big Prints Tuesday morning. One strategist sold August 60 calls at 73 cents to buy the bullish October 52.5 put – 62.5 call risk reversal, at 73 cents, 10000X on PHLX. Therefore, they came out even on this (register to read more …) [...]

read more from this topic.....

Dynegy (DYN) is up 14 cents to $4.67 and calls remain actively traded after Blackstone said Friday they’re looking to buy the power producer for $4.50 per share in cash. Judging by the fact that shares are 17 cents above (register to read more …) [...]

read more from this topic.....

Exxon Mobile (XOM) adds 43 cents to $62.40 and is one of 25 Dow stocks heading higher late Monday. A noteworthy options trade late in the day is a Jan 57.5 – 60 bullish risk-reversal, bought at $2.55, 10000X on (register to read more …) [...]

read more from this topic.....

Sandridge Energy (SD), the Oklahoma City independent oil and gas driller, falls 80 cents to $5.27 on disappointing second quarter earnings. In the options market, noteworthy trading is being seen in the Dec 5 – 6 bullish risk-reversal. One player (register to read more …) [...]

read more from this topic.....

BP shares are up $1.57 to $38.43 and options action remains brisk, as players react to the latest developments in the Gulf spill saga and await earnings. According to recent media reports, BP’s Hayward is stepping down in October and (register to read more …) [...]

read more from this topic.....