The company has traded over 17,000 options today in the first three hours on total daily average option volume of 712. The day's biggest trade is a sale of the Mar 30/20 risk reversal (buy calls/ sell puts) @ 0.16 net. The OI on both lines is substantially smaller than the trade sizes - these are opening positions. Someone is collecting 0.16 to get super long NXY if it goes through $30. The next largest trade was a purchase of the Feb 25 calls - ~500 times total. Both of these trades are large opening bullish bets relative to average option volume. The stock chart illustrates that the price has bounced around these levels for a number of months with no strong directional move. You can see details, prices, charts on my blog here: http://livevol.blogspot.com/2010/01/nexen-nxy-bullish-risk-reversal-and.html