- Dollar is Not Plunging—So 'Calm Down': Market Strategist
- Strategists Say Markets Have More Upside — But How Much?
- 10 Stock Picks for This 'Gradual Recovery'
- Recovery's Real Shape? Not a W: Stock Picker
- Market Direction into 2010 Depends on This: Analysts
- Prep Your Portfolio for Next Week: Stock Pickers
- Art Cashin: Why Markets Face 'Enormous' 1-Day Swings
- India or China: Which Is the Better Place to Invest?
- What Traders Expect From This Bank Stock
- Gold Is a Bad Inflation Hedge—Like Oil: Stock Picker
MOST SHARED
- Today's Market Action
- Microsoft's Bill Gates Praises Apple's Steve Jobs For 'Saving the Company'
- Has Twitter's Finest Hours (Seconds) Come and Gone?
- Israel: Leader of Business Innovation
- Week Ahead: Investors Go for Quality, Assess Recovery
- Israel Going Green
- Inside Wal-Mart's Acai Berry Juice Maker
- China's Role as Lender Alters Dynamics for United States
- Seeking Innovation in Health Care
- CNBC TRANSCRIPT: Warren Buffett & Bill Gates - Keeping America Great
- Dollar is Not Plunging—So 'Calm Down': Market Strategist
- Strategists Say Markets Have More Upside — But How Much?
- Hirschhorn: Risk-Averse Traders
- Roginsky: A Funny Thing Happened on the Way to Financial Reform
- This Year's Biggest Thanksgiving Leftover: Cash
- TV Series Inks Unique Deal For Fight
- First Time Buyers Rescue Housing: Realtors
- Dollar General Trades Higher After Its IPO
- Fed Reform? Not So Fast.
- White House Plans to Freeze Spending to Cut Deficit
- Week Ahead: Investors Go for Quality, Assess Recovery
- Hedge Fund Billionaire Paulson Reports New Citi Stake
- Cramer: 5 Earnings Reports to Watch Next Week
- Court Rejects 'Clawbacks' for Alleged Stanford Victims
- Cities With the Most Home Price Reductions
- Tax Credit Sparking First-Time Home Sales: Realtors
- Investors Cut Back US Stocks for Bigger Growth Abroad
- This Year's Biggest Thanksgiving Leftover: Cash
RSS FEED
CNBC Stock Blog
Text Size 
BP [BP
Loading...
()
] is seeing bullish options activity today after the company reaffirmed its commitment to dividends and capital expenditures.
Traders bought the April 50-60 bull call spread at $2.95 this morning, according to OptionMonster's Heat Seeker system, which tracks unusual trading activity. The open interest at these two strike prices is 1,680 and 3,470 contracts respectively, while the entire April call open interest is less than 10,000 contracts.
There are a few possible reasons for the bullish move in BP, which is trading some $32 under its 52-week high at about $45.50 today. In addition to the positive comments about its spending and dividends, made by BP chief economist Christof Ruehl at a London conference, the company's Russian venture TNK-BP ended a management dispute by removing CEO Robert Dudley.
___________________________
Jon 'DRJ' Najarian is a professional investor, CNBC contributor, and cofounder of OptionMonster.
___________________________
Data is a real-time snapshot *Data is delayed at least 15 minutes