I notice a one big block buy of (1500) OXY JAN13 $72.50 CALLs today. Delta = .62+. Somebody's made a bullish bet on OXY? Big volume spike on Tuesday, of over 2 million shares. Somebody's accumulating or making a value-play.
The purchase of (1500) contracts at around $3.90 makes that about a $585,000 bet.
These days a purchase of (1500) ITM contracts in one wack is a big deal. If they were OTM, it wouldn't be that big a deal, but (1500) contracts is about $485,000 @ $3.90/put. The stock fell right after the buy about $ .48/sh, (losing the purchaser $45K in minutes), but the stock proceeded to then go to a new ST high for the day.