Long Term Bull Buys Into WFT

Shares of Weatherford International LTD WFT are lower on the session by 2.27%, currently trading $13.80. The stock has been struggling as of late and has been drifting lower. The stock is now below both the 50-day and 200-day moving averages. Call buying can be seen on the January 2011 $20 call today, where 1,700 contracts have been bought; open interest on the strike is 21,074 contracts. Weatherford International Ltd. is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. It conducts operations in approximately 100 countries and has service and sales locations in the oil and natural gas producing regions in the world.