KeeneOnMarket

Unusual Volume in CRK Calls

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NYSE:CRK   Comstock Resources, Inc.
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Comstock Resources Inc (CRK) is a oil and natural gas exploration and production company with most of its operations in Texas and Louisiana. The company’s stock is currently trading around $20.00 in a 52 week range of $13.12-$20.12. The stock has performed very well in the past year with shares gaining over 45% in the past 12 months. Options action in CRK during today’s trading session would suggest that traders believe there is more upside to come. Earlier in today’s session a trader bought 6,000 CRK Jun 20 Calls for $1.80. This is a very bullish trade and this block represents volume nearly 5.5 times the average daily option volume in CRK. Shares of CRK are also trading well above the Ichimoku Cloud with the future cloud beginning to slope higher. This indicates the stock is trading in bullish territory and that there could me more upside in the future. We believe that the bullish order flow in CRK and the strong chart are more than enough signal for a long position.

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