Deep Dive Into Today's Trading Activity for McMoRan Exploration (MMR)

Posted on 11/12/2012 by Allen Bersch

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NEW YORK (AVAFIN) -- Trading of McMoRan Exploration options resulted in establishing a new 90-day call volume record, where 20,151 call contracts exchanged hands between the buyers and the sellers. A total of 6,405 put and 20,151 call contracts was traded raising a 0.32 put/call ratio on shares of MMR

The ratio skew implies that investors are hedging their positions in anticipation of a stock move. Today's unusual volume activity confirms that traders are re-balancing their portfolios.

On the volume side, 1M shares were traded which is less than the average volume. McMoRan Exploration is trading above the 50 day moving average and higher than the 200 day moving average. Shares of MMR opened today at $13.01 and settled the day down $0.41 to $12.59 during the session. The day's trading range is between $12.52 and $13.05 respectively. To date, the stock has gained 7.17% within the last week.

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