Shares of Weatherford International (WFT) are trading higher on the session by 1.40%, at $10.86. The stock has been moving largely lower over the past two months with shares touching a fresh 52-week low this morning before rebounding.
One trader is rolling call on the name today, betting that a rebound is in the cards. A short while ago the November $12.00 call was sold 10,000 times, on the bid, for $0.16 just as 10,000 January 2013 $12.50 calls were purchased, on the offer, for $0.36.
Open interest on both strikes is consistent with a roll.
30-day implied volatility is up 0.7% today to 50.16%, while 10-day realized vol is registering 43.91%.
Weatherford International Ltd. is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells.