Options Traders Gravitate to Some Spill-Cleanup Positions

Updated May 4, 2010 12:01 a.m. ET

NEW YORK—As the oil spill continues to grow in the Gulf of Mexico, options traders rallied around companies that could play a role in cleaning up the disaster.

Trading in Nalco Holding Co. was particularly robust after BP PLC said it was going to use the company's chemicals to help clean the spill. Based in Illinois, Nalco Holding makes a chemical that would break down the oil, thereby reducing its concentration and allowing it to...

Available to WSJ.com Subscribers