Range Resources Call Volume Jumps Before Earnings Next Week
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Range Resources Corp. call-option trades surged to an almost seven-month high before the natural-gas producer with assets in the U.S. Southwest and Appalachia reports earnings next week.
More than 28,000 calls to buy the stock traded today, almost 10 times the four-week average and eight times the number of puts to sell. The most-traded contracts were the June $70 calls, which accounted for more than one-third of all call volume. Fort Worth, Texas-based Range Resources gained 4.2 percent to $54.28, the highest price since October 2009.