Bulls Bet Cal Dive Climbs (DVR)

Shares of Cal Dive International, Inc. DVR are higher on the session by 2.51%, currently trading at $4.69. The stock has been moving largely lower over the past six months, off from highs near $8.00. The stock is trading well below the 50-day moving average. Options traders are betting on a bit of mean reversion today. The January 2011 $5.00 call was purchased 2,000 times, on the offer, a short while ago. The trade went off form $0.50. Open interest on the strike is only 315 contracts. This signals new positioning on the name. Call volume is now running at 74x the daily average. Cal Dive International, Inc. is a marine contractor. The company provides manned diving, pipelay and pipe burial, platform installation and platform salvage services to a diverse customer base in the offshore oil and natural gas industry. For more great research like this, as well as how to play it through options…please visit Benzinga’s Options & Volatility Edge and Benzinga’s Cash Generator.