Bulls Look for Tyson to Bounce
Calls lock in the price where investors can buy the poultry processor's stock, letting them control a rally at minimal cost. They can also generate significant leverage if it shares moves in the right direction.
Tyson rose 0.51% to $37.24 on Monday, but is down 6% in the last week. It attempted to rally on July 28 after revenue beat expectations, only to follow the S&P 500 lower since. It's now attempting to hold support at its 200-day moving average, which could make some chart watchers expect a bounce.
Overall option volume was four times greater than average in the session, with calls accounting for three-quarters of the total.
Russell has no positions in the stocks mentioned.
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