Bears Drilling Into Hercules Offshore (HERO)

Shares of Hercules Offshore, Inc. HERO are higher on the session by 1.69%, currently trading at $6.01. The stock has been moving largely higher over the past four months and is currently trading above the 50-day moving average. Options traders are buying puts on the name today. A short while ago the June 2011 $6.00 put was purchased 2,000 times, on the offer, on open interest of only 51 contracts. Overall put volume is now running at 2.28x the daily average with 98% of all puts traded being purchases on the offer. Hercules Offshore, Inc. provides shallow-water drilling and marine services to the oil and natural gas exploration and production industry globally. It provides these services to national oil and gas companies, major integrated energy companies, and independent oil and natural gas operators.