Phillips 66 shares rose 2.36 percent to $45.59 yesterday and are up 40 percent in the last three months. Spun off from ConocoPhillips earlier this year, Phillips 66 is an independent energy company engaged in oil refining and marketing.
Total option volume in the name exceeded 18,000 contracts, nearly four times its daily average. Fewer than 1,500 of those were puts, a reflection of the upside bias.
Yesterday’s bullish activity also came one session after similar trading in Hess.
—By CNBC Contributor Pete Najarian
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Pete Najarian is a professional investor, CNBC contributor, regular co-host of CNBC’s “Fast Money” and co-founder of OptionMonster.com. Najarian has no positions in PSX.