Traders look for Tractor Supply to plow ahead

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Traders are making a bullish bet Friday on Tractor Supply ( TSCO ). So far, 3,189 contracts of the May 70 call have changed hands, against open interest of 309 contracts. Today's volume has tracked the high half of the bid-ask spread, indicating that these new contracts were initated from the buy side.  

InvestorsKeyhole Trade Alert

IK-> The technicals for TSCO ($60.35 up $0.49) are bearish with a sideways trend. The stock has support about $58.65. Look at the June 45/50 bull-put spread for a 20-cent credit. That's a 4.2% return and the stock has to fall by 17.1% to cause a problem. [InvestorsKeyhole, various news and data services]

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Originally published on InvestorsObserver.com

This article appears in: Investing , Options
Referenced Symbols: TSCO

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