Tractor Supply (TSCO) is up $2.04 to $52.84 and touched a new 52-week high after the company preannounced earnings. Company raised third quarter EPS numbers, but lowered revenue estimates. In the options market, volume is running 8X the usual, with some investors apparently selling Oct 50 calls to open in new positions. For example, a block of 2,435 hit on the bid for $3.60 when the bid-ask was $3.60 to $3.70. 3146 now traded, vs. 1581 of open interest. Implied volatility (average) is up to 41, from about 39.2 late Wednesday.
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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.