Calls Sold on Frontier Oil (FTO)

Shares of Frontier Oil Corp. FTO are lower on the session by 2.91%, currently trading $13.02. The stock has been sliding as of late and is trading below the 50-day and 200-day moving averages, though is still holding an upward-trending trend line. I am seeing calls sold in the name, though. The January 2011 $15 call was sold earlier in the session 2,200 times near the bid. Open interest on the strike is 4,761 contracts. I would be careful with anything even remotely related to oil; everything appears to be taboo in recent days. Frontier Oil Corporation is an independent energy company, engaged in crude oil refining and the wholesale marketing of refined petroleum products.