Tyco International Ltd New (TYC) $51.42 -0.12%
Tyco (TYC) is flat at $51.48 and attempting to snap a five-day 6.3 percent losing skid. One player in the options market seems confident in the stock, as 3500 Oct 47 puts were apparently sold on TYC at $2.30 to buy 3500 Oct 52.5 – 57.5 call spreads for $2.04. The three-way, at a 26-cent credit, is probably tied to 175K shares at $51.60 and might add to positions opened Friday, which created about 3,000 in open interest in all three contracts.
Category: All Stocks, Industrial Goods & Services, Large 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.
