Options Players Hone in on McMoRan Exploration (MMR)

Posted on 10/19/2012 by Rich Singler

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NEW YORK (AVAFIN) -- Trading of McMoRan Exploration options resulted in establishing a new 90-day call volume record, where 30,105 call contracts exchanged hands between the buyers and the sellers. A total of 8,657 put and 30,105 call contracts was traded raising a 0.29 put/call ratio on shares of MMR

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Put/Call ratio is often used to measure investment sentiment, the ratio serves as a predictor of investor behavior. Unusual options volume provides reliable clues that the stock is expected to make a move.

Shares of MMR opened today at $12.58 and settled the day down $1.00 to $11.76 during the session. The day's trading range is between $11.70 and $13.19 respectively. Performance indicators show that the stock has gained 12.62% within the last week. On the volume side, 6M shares were traded which is greater than the average volume of 2M shares. McMoRan Exploration is trading below the 50 day moving average and lower than the 200 day moving average. The stock's 52 week low is $7.76 and 52 week high is $16.57.

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