Energen Corporation (EGN) is yet another company that we have seen bullish activity in today. It is an energy holding company, engages in the development, acquisition, exploration, and production of natural gas and oil. Today we saw a trader buy 1,000 EGN April 85 Calls for $2.55. This was 6.0 times usual volume and control the right but not obligation to buy 100,000 shares of EGN between now and April for $85. The chart looks great to the upside and I think it can approach its old 52 week high of $90.
Disclosure: I am long the 50 EGN April 85 Calls for $2.55 and will look to exit 80% of them by the end of the day.
