OptionsHouse

Options Trading News

September 4, 2013  Wed 9:14 AM CT

TYC: SEE CHART GET CHAIN FIND STRATEGIES
Tyco has been falling for the last month, but traders are betting that the bloodletting is coming to an end.

optionMONSTER's tracking systems detected the sale of 2,081 October 32 puts this morning for $0.59 to $0.56. The volume was well above the strike's previous open interest of 469 contracts, showing that this is new activity.

These short puts are looking for TYC to stay above $32 through expiration in mid-October. If the stock falls below that strike price, the trader will face the obligation to buy shares at that level. (See our Education section)

TYC is up 0.49 percent to $33.09 today. The industrial conglomerate, whose products range from burglar alarms to sprinkler systems, has been trending lower since trading near $36 in early August but seems to have found support at the $33 level in recent days.

Total option volume in the name is already quadruple its daily average for the last month.
Share this article with your friends


Related Stories

TYC

Is Tyco finally ready to wake up?

March 10, 2015

The security-systems manufacturer has drifted for a year, but now the bulls apparently think that it's ready to wake up.

OptionsHouse

Premium Services

Free Webinar

Education & Strategy

Introduction to Theta

This week, we continue our discussion of the strike-based Greeks with Theta...

View more education articles »