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December 21, 2012  Fri 12:07 PM CT

Call selling tops today's option activity in Talisman Energy as shares remain trapped in a range.

optionMONSTER systems show that a trader has sold 5,000 July 12 calls, with a block of 3,029 going for the bid price of $0.80. There was no open interest at that strike, so this is a new position.

The options were likely sold against a long stock position as a covered call trade. This strategy would be bullish up to the $12 strike price but not beyond. (See our Education section)

TLM is down 1.45 percent to $11.23 this afternoon as it continues to hold support at $11 in place for the last month. This comes after the oil and natural-gas exploration company sold off from a 52-week high above $15 in mid-September and gapped down from above $12 on the last day of October.
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