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Strange Things Afoot In SandRidge Options

|Includes:SandRidge Energy, Inc. (SD)

Maybe just a profit-taker after a quick run-up from $5.60, but on a nicely up day with SandRidge (NYSE:SD) closing at $6.01 both the nearest dated $6 and $7 strikes saw significant volume exiting, and the $6 strike went from out of the money to in the money - usually the most profitable day a call option can have:

Maybe a chance to buy the calls, maybe somebody knows something, but those calls should have made nice gains for holders today, hmm..

Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in SD over the next 72 hours.

Stocks: SD