Calls Purchased on Lufkin Industries (LUFK)

Shares of Lufkin Industries LUFK are higher on the session by 1.23%, currently trading at $80.85. The stock has been moving largely higher over the past six months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A short while ago the May 2011 $15.00 call was purchased 3,000 times, on the offer, on open interest of 352 contracts. This signals new positioning on the strike. Overall call volume is now running at 4.45x the daily average with 74% of all calls traded being purchases on the offer. Lufkin Industries, Inc. is a global supplier of oil field and power transmission products. The company operates in two segments: Oil Field and Power Transmission. Through its Oil Field segment, the company manufactures and services artificial lift equipment and related products, which are used to extract crude oil and other fluids from wells.
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