Calls Active as Talisman Energy Appoints New President and CEO
Shares of Talisman Energy (TLM) are trading higher this morning after the company announced that it would be appointing Hal Kvisle as President and CEO. Current President and CEO, John Manzoni, has agreed to step down immediately.
Shares are trading higher by 3.53%, trading at $14.67.
Options traders are active in the calls today with volume running at 6.76x the daily average. Over 5,900 contracts have traded on the name.
The heaviest action is coming in September, where the $14 call was sold 2,022 times, on the bid, for $0.95. Open interest on the strike is only 1,640 contracts, which indicates fresh positioning.
The September $16 call also traded 3,000 times, near the offer, at $0.15. There was no previous open interest on this strike. The two block trades do not appear to be linked; they traded roughly one minute apart.
Implied and historical volatility is currently registering 35% and 27%, respectively. This is down from 48% and 38% just four months ago.
Talisman Energy Inc. is a global, diversified, upstream oil and gas company. The company’s business activities include exploration, development, production, transportation and marketing of crude oil, natural gas and natural gas liquids.