Calls Purchased on RPC, Inc. (RES)

Shares of RPC, Inc. RES are lower on the session by 2.13%, currently trading at $17.02. The stock has been moving largely lower over the past two months and is currently consolidating between the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A short while ago the February 2011 $17.50 call was purchased 1,100 times, on the offer, on open interest of only 649 contracts. This signals new positioning on the strike. Overall call volume is now running at 3.01x the daily average with 85% of all calls traded being purchases on the offer. RPC, Inc. provides a range of specialized oilfield services and equipment primarily to independent and oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of Mexico, mid-continent, southwest, Rocky Mountain and Appalachian regions, and in selected international markets.