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May 8, 2013  Wed 3:16 AM CT

TXN: SEE CHART GET CHAIN FIND STRATEGIES
Texas Instruments is near its highest levels in more than a decade, and one trader is betting on a floor beneath the chip maker's stock.

optionMONSTER's tracking systems detected the sale of 3,000 January 31 puts for $0.99. This is a new position, as there was no open interest in the strike before the session began.

This put seller is looking for TXN to stay above $31 through expiration early next year. If the stock falls below that strike price, the trader would be on the hook to buy shares at that level. (See our Education section)

TXN finished yesterday unchanged at $37.04 after peaking at $37.25 on Friday--its highest price since mid-2007 and, before that, July 2001. The stock bounced off support at the $34 level in mid-April, near its 50-day moving average, and has been running higher since. 
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