Calls Position Rolled on Tessera Technologies (TSRA)
September 01, 2010 10:57 AM
Shares of Tessera Technologies Inc. (NASDAQ: TSRA) are higher on the session by 3.62%, currently trading at $15.75. The stock has been moving largely lower over the past four months, off from recent highs near $22.50.
One options traders is betting that the stock can rally from these levels and is rolliong a position in the calls. The September $17.50 call was sold 674 times, on open interest of 1,365 contracts, and the December $16.00 call was purchased 674 times, on open interest of 1,360 contracts, for a net debit of $1.15.
Call volume is now running at 3.43x 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. Its Imaging & Optics division includes wafer-level packaging, wafer-level optics, image enhancement technologies and micro-optics.
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