Bulls Drilling Into Hercules Offshore

Shares of Hercules Offshore, Inc. HERO are higher on the session by 1.69%, currently trading at $6.03. The stock has been moving largely higher over the past six months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A short while ago the October 2011 $4.50 call was purchased 6,000 times, on the offer, on open interest of 109 contracts. Overall call volume is now running at 4.55x the daily average with 84% of all calls 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.