OptionsHouse

Options Trading News

January 8, 2013  Tue 9:19 AM CT

TIF: SEE CHART GET CHAIN FIND STRATEGIES
Tiffany has been rebounding strongly in recent days, but one trader apparently believes that further upside is limited.

More than 10,000 May 65 calls have traded so far today, led by a big print of 7,386 that was sold for $2.90, according to optionMONSTER systems. The volume was well above the strike's open interest of 2,747 at the beginning of the day, so this is clearly a new position.

This call selling appears to be a straightforward bet that TIF will close below the $65 strike price at expiration in mid-May. It is quite likely that the options were sold against long shares as a covered call strategy.

TIF is up 1.05 percent to $61.74 today. The jewelry icon bounced sharply off support at $56 last week and this morning closed the gap that was opened in late November after its earnings report.
Share this article with your friends


Related Stories

TIF

Tiffany traders look for comeback

May 20, 2015

The iconic jewelry company, which reports earnings next week, has been range-bound since gapping violently lower on disappointing guidance in January.

Invest Like a Monster - San Diego: June 26-27

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Archived Webinar

Education & Strategy

Short synthetic stock

With the use of the calls and puts we can not only create Long Synthetic Stock, but Short Synthetic Stock as well...

View more education articles »