Calls Purchased on Noble Corporation (NE)

Shares of Noble Corporation NE are higher on the session by 1.19%, currently trading at $40.04. The stock has been moving largely lower over the past two months and is currently trading between the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A short while ago the May 2011 $40.00 call was purchased 5,000 times, on the offer, on open interest of only 1,805 contracts. This signals new positioning on the strike. Overall call volume is now running at 4.13x the daily average with 70% of all calls traded being purchases on the offer. Noble Corporation is an offshore drilling contractor for the oil and gas industry. It performa contract drilling services with its fleet of 73 mobile offshore drilling units and one floating production storage and offloading unit located globally.