by Houghton and Atkeson 06/30/08
Today, investors have traded 42,414 puts versus 1,100 calls in Tyson Foods (TSN)> That's nine times the usual volume and 35% of open interest.
On the heals of the announcement to get into business with India's poultry processor Godrej Foods, option players are selling puts: 23,00 TSN Oct 12.50 Puts (TSNVV) and 14,000 TSN Jan 12.50 Puts (TSNMV) are the two biggest trades.
With TSN at $15.11, the investors are taking a bullish stance that they would be owners of TSN at 12.50 (minus the premiums received).
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