Calls Purchased on Lear Corp. (LEA)

Shares of Lear Corp. LEA are lower on the session by 0.31%, currently trading $66.68. The stock has been selling off as of late and is now trading below the 50-day moving average. One trader is betting that the stock will hold this level and perhaps move higher, however. I am seeing calls purchased this morning in Lear Corp on the December $70 call strike, where 1,750 contracts were purchased a short while ago for $6.30 on open interest of only 17 contracts. This suggests that new, bullish positions were opened. Lear Corporation is a supplier of automotive seat systems and electrical power management systems with a global foot printing, including 35 countries.