Calls Purchased as Flotek Industries Bursts Higher (FTK)

Shares of Flotek Industries, Inc. FTK are higher on the session by 26.57%, currently trading at $6.67. 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 April 2011 $7.50 call was purchased 2,000 times, on the offer, on open interest of 632 contracts.

Overall call volume is now running at 6.94x the daily average with 80% of all calls traded being purchases on the offer.

Flotek Industries, Inc. is a diversified global supplier of drilling and production related products and services to the oil and gas industry. Its core focus is oilfield specialty chemicals and logistics, downhole drilling tools and downhole production tools. It operates under three segments: Chemicals and Logistics, Drilling Products and Artificial Lift.