Shares of Petroleo Brasileiro S.A. PBR are lower on the session by 0.86%, currently trading at $35.83. The stock has been moving largely higher over the past four 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 September 2011 $40.00 call was purchased 1,550 times, on the offer, on open interest of 1,864 contracts.
Overall call volume is now running at 55.81x the daily average with 98% of all calls traded being purchases on the offer.
Petroleo Brasileiro S.A. is an integrated oil and gas company. The company operates in five segments: exploration and production; refining, transportation and marketing; distribution; gas and power, and international. The exploration and production segment includes oil and gas exploration, development and production in Brazil.
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