Highly Unusual Option Activity in Tiffany (TIF)

Posted in Options 
July 24th, 2009

Tiffany & Co. (NYSE: TIF) is not just seeing an unusual trading pattern in the options, it is outlandish…. The September 2009 $29.00 PUTS Were at $2.05 on last trade and the market was $1.95 X $2.05.  There have now been 30,769 contracts traded, yet the open interest is listed as only 356 contracts.  On a full leveraged basis, this represents over 3 million shares.  The stock common stock itself is at $29.64 and we have only seen 2.88 millions of common stock trade hands as of 1:07 PM EST.  The 52-week range is $16.70 to $45.80 in the stock and this has an average daily volume in the common stock of about 2.8 million shares.

JON C. OGG  (1:07 PM EST)

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