Over at "VOLUME SPIKE" (vsinvestor.com) we were running some screens today and found two unusual option and stock movers worth noting today. These two moves come from companies as different from each other as night and day, so besides them being in the same sector they are completely unrelated movers. This was one of the oil & gas companies recently highlighted by none other than T. Boone Pickens when he was touting $150/barrel oil.
The first came in SandRidge Energy Inc. (NYSE: SD) with a highly unusual options volume trade in the SEP08 $80.00 CALLS. That is more than any normal day’s implied volume by far if you look at the leverage of the contracts, and the stock has never traded at $80.00. .
The second strange volume alert came in a much more speculative stock called Pinnacle Gas Resources, Inc. (NASDAQ: PINN). It looks like traders are "speculating on speculators" as this was a thin volume stock that has been active the last two days.
Douglas A. McIntyre
June 19, 2008
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