Option Traders Buy Cobalt International Energy Calls and Mirant Puts

Filed under: Stocks to Buy, Stocks to Sell

Option traders appear to be setting up for a bullish move on Cobalt International Energy, Inc. (CIE). Traders plowed into 1,553 new call option contracts -- 4.65 times the average volume -- on the stock on Monday. And we know that traders were eager to get into this trade because 98% of the trades came in on the ask price.



Cobalt just bounced up off of support at $7. The stock closed Monday at $8.25, down 1.32% during the past month.



Option traders also look like they are preparing for a bearish move on Mirant Corporation (MIR). Traders bought 1,006.00 new put option contracts -- 6.75 times the average volume -- on the stock. A full 100% of these trades also came in on the ask price.



The stock closed Monday at $9.63, down 12.22% during the past month.

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Option Traders Buy Cobalt International Energy Calls and Mirant Puts originally appeared on BloggingStocks on Mon, 30 Aug 2010 18:20:00 EST. Please see our terms for use of feeds.

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