Traders Looking for Pleasure From Helmerich & Payne (HP)

Shares of Helmerich & Payne Inc. HP are higher on the session by 0.82%, currently trading at $39.35. The stock has been moving largely sideways for the past twelve months, hovering around the $40.00 level and the 590-day moving average. Options traders are buying upside calls on the name today, though. A short while ago, the October $40.00 call was purchased 1,290 times on open interest of 616 contracts and the October $42.50 call was purchased 2,215 times on open interest of 237 contracts. Call volume is now running at 9.00x the daily average. Helmerich & Payne, Inc. is engaged in contract drilling of oil and gas wells for others. The contract drilling business is composed of three business segments: U.S. land drilling, offshore drilling and international land drilling. The United States drilling is conducted primarily in Oklahoma, California, Texas, Wyoming, Colorado, Louisiana, Mississippi, Pennsylvania, Utah, Arkansas, New Mexico, and North Dakota. For more great research like this, as well as how to play it through options…please visit Benzinga's Options & Volatility Edge and Benzinga's Cash Generator.