Quick update on British Petroleum (BP) that I wrote up on Friday. The stock has jumped $.95 to $39.75, or right up against the 200 day moving average I highlighted as well. The March 40 calls that were trading freely at $.65 are now $1.05 bid. Also, there is huge speculative flow in this weeks expiring 40 calls, with over 55,000 contracts trading as of midday between the $.20 and $.45 zone (currently $.27 as I type this) as people might be trying to play a potential breakout over the 200 day sma. Stock traded as high as $40.08 before backing off to current $39.78.