Calls Purchased on Murphy Oil

Shares of Murphy Oil MUR are higher on the session by 0.39%, currently trading at $64.37. The stock has been moving largely lower over the past three months and is currently trading below the 50-day moving average. Options traders are buying calls on the name today. A short while ago the August 2011 $70.00 call traded 2,500 times on open interest of 672 contracts. Overall call volume is now running at 4.31x the daily average with 93% of all calls traded being purchases on the offer. Murphy Oil Corporation is an oil and gas exploration and production company with refining and marketing operations in the United States and the United Kingdom. The company operates primarily as a holding company.