Shippers Setting Sail? DryShips Calls Active (DRYS)

Leading the way in the shipping space today is DryShips (NASDAQ: DRYS) up 3.6% to 4.87 on heavy volume. Over 17 million shares have changed hands as of 1:00 est vs the three month average 10 mil shares a day.

Option traders speculated on upside November calls with nearly 20k trading vs 2k puts ahead of Wednesday's EPS release. Volatility is flat holding around 43.

The Baltic dry index is down on the day half a percent, though the index is at medium term support of 2500.