Teco Energy (TE) continues to see active trading and high levels of bullish sentiment in the options market. We noticed unusual volume amid ongoing strength in the share last week and speculated it might be related to recent broker commentary including upgrades to Buy at Citi and Merrill last month. Today, the stock hit its best levels since September 2002 and active call buying is accompanying the move higher. 6,150 calls traded, compared to just 300 puts. Directional sentiment indicated by the volume is 78 pecent bullish. Tradethenews is citing takeover chatter.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.