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TPX

Traders buy calls on TPX

Option traders are betting Thursday on a bounce from mattress maker Tempur Sealy ( TPX ). So far, 5,093 contracts of the Dec. 60 call have changed hands, against open interest of 947 contracts. Today's action has all been priced high in the spread, indicating these new contracts were initiated from the buy side.

InvestorsKeyhole Trade Alert

IK-> The technicals for TPX ($49.74 down $0.26) are neutral with a sideways trend. The stock has support around 47.40. Look at the Sept. 37.50/42.50 bull-put spread for a 20-cent credit. That's a 4.2% return and the stock has to fall by 14.6% 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


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

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