Bulls Take A Shine To Tiffany & Co. (TIF)

Shares of Tiffany & Co. TIF are lower on the session by 1.67%, currently trading at $59.00. The stock had been moving largely lower over the past three months and is currently consolidating between the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A short while ago the May 2011 $65.00 call was purchased 5,500 times, on the offer, on open interest of only 3,932 contracts. Overall call volume is now running at 3.00x the daily average with 75% of all calls traded being purchases on the offer. Tiffany & Co. is a holding company and conducts all business through its subsidiary companies. The company's principal subsidiary, Tiffany and Company, is a jeweler and specialty retailer whose principal merchandise offering is fine jewelry. The company also sells timepieces, sterling silverware, china, crystal, stationery, fragrances and accessories.