Bullish Options Bets in Tiffany (TIF)

Posted in Options 
December 6th, 2010

Tiffany & Co. (NYSE: TIF) may have only closed up $0.10 at $63.30 on a normal day with 2.52 million shares on Friday.  The issue is that the 52-week range is $35.81 to $63.65 and average volume is 2.1 million shares.

The real activity was seen in the call option buying with a standout trading pattern.

We saw in the FEB-2011 $70.00 CALLS that the contracts traded were 8,834 contracts versus an open interest of 17,641 contracts.

Despite a monster run and despite high valuations, someone is betting on some added upside.  If not, they are hedging some short-bets.


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