Traders Bet Baker Hughes Rebounds (BHI)

Shares of Baker Hughes Inc. BHI are lower on the session by 5.09%, currently trading $36.20. The stock has fallen off a cliff over the past few weeks and is now nearing historical support around $35.00. Options traders are betting the stock turns around here and moves higher. They are buying the June $36 call and the July $40 call today; the strikes have traded 4,369 times and 3,680 times, respectively. Volume on both strikes vastly outpaced open interest. Baker Hughes Incorporated is engaged in the oilfield services industry. The Company is a supplier of wellbore related products and technology services and systems and provides products and services for drilling, formation evaluation, completion and production, and reservoir technology and consulting to the worldwide oil and natural gas industry.