Tyson Foods (TSN) $15.09 +3.07%
Tyson (TSN, news, chart) is seeing active trading on put selling. Total volume is running 7 times the normal, with 34,000 TSN puts and only 840 calls trading on the day. The stock is up 44 cents to $15.08 on news the company has acquired majority ownership of the leading poultry processing company in India. Initial annual sales from the venture estimated to be $50 million with anticipated growth as operations expand. In the options market, the October 12.5 and January 12.5 puts are the most actives. 36,000 contracts have traded, with two large blocks (17,910 of the Octs and 7,959 of the Jans) recently trading bidside.
Category: All Stocks, Food & Beverage, Mid Cap Stocks
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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.
