Calls Purchased on Temple Inland (TIN)

Shares of Temple Inland Inc. TIN are higher on the session by 6.04%, currently trading at $22.66. The stock has been trading largely lower over the past few months, but has garnered some bullish sentiment over the past week or two. Options traders are buying calls on the name today. The July $22.50 strike was purchased 1,550 times, on the offer, on open interest of 3,561 contracts. It is possible that these calls were purchased as a cheap hedge to short shares. Call volume is now running at 2.51x the daily average. Temple-Inland Inc. manufactures corrugated packaging and building products, which the company considers as two separate operating segments. The company's vertically integrated corrugated packaging operation includes seven mills and 63 converting facilities.