A small crude oil company based in Texas is seeing a surge in out-of-the-money call options in what could be a sign of another burst of retail trader action, Bloomberg reports, citing Reddit discussion threads mentioning the company. Ring Energy, which pumped a mere 9,500 barrels of oil daily as of the third quarter of 2020, may become the second oil “meme stock”, after it saw its share price double over the last two weeks. Last week, media reported the case of New Concept Energy, another Texan company even smaller than Ring Energy,…
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