Speculative Oil & Gas Moves (SD, PINN)

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By Douglas A. McIntyre Updated Published
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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

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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