Chevron (CHV - 83-1/4) - CHV, It's a Gas, Gas, Gas Oil stocks are moving higher again this morning on speculation that OPEC may follow through on a plan to cut back on oil production. The Amex Oil and Gas Index (XOI - 425.25) has tacked on over 3% in mid-morning trading. Options players have been quick to take notice of this week's rally in the oil stocks. The CHV in-the-money April 75 call saw open interest increase by 998 contracts yesterday on volume of 1,000 contracts over three lots. The then out-of-the-money April 85 call also traded actively yesterday, as open interest rose by 477 contracts.
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