Calls Purchased on Heckmann Corp. (HEK)

Shares of Heckmann Corp. HEK ended the session higher by 0.22%, trading at $4.66. The stock has been trading largely lower over the past five months and is currently in a technical downtrend. Options traders were buying calls on the name today, betting that shares could rally from here. The December $5.00 call was purchased 2,900 times, on the offer; open interest on the strike was 2,707 contracts. Call volume was running at 14x the daily average with 100% of all calls traded being purchases on the offer. Heckmann Corporation was created to buy and build companies in the water sector. On January 30, 2010, it completed the 50-mile water disposal pipeline in the Haynesville Shale, which could treat and dispose up to 100,000 barrels of water per day. The new pipeline and its network of disposal wells are operated as wholly owned subsidiary, Heckmann Water Resources Corporation.