Calls Purchased on Tessera Technology (TSRA)
July 08, 2010 3:03 PM
Shares of Tessera Technologies Inc. (NASDAQ: TSRA) are higher on the session by 2.16%, currently trading at $16.07. The stock has been trading largely lower over the past six months and is currently in a technical downtrend.
Options traders are buying calls on the name today, betting that a rally may be in order. The August $17.50 call was purchased 3,000 times, on or near the offer, on open interest of just 95 contracts. This suggests new, bullish positioning on the strike.
Call volume is now running at 6x the daily average.
Tessera Technologies, Inc. develops, licenses and manufactures technologies in two areas: Micro-electronics, and Imaging & Optics. The company's Micro-electronics include semiconductor packaging technologies consisting of interconnect and substrates, and thermal management technology.
