Shares of Lear Corp. LEA are higher on the session by 2.40%, currently trading $67.71. The stock has been drifting lower for the past few weeks and is now trading below the 50-day moving average.
I am detecting call selling in the name today as well, which would suggest that any rally in the name will be muted. I am seeing 2,500 of the June $75 calls sold on the bid for $0.70. Open interest on the strike is only 957 contracts, which suggests this is fresh call selling; it looks to be naked as well, as no sizable amount of stock traded near that options sale.
Lear Corporation is a supplier of automotive seat systems and electrical power management systems with a global foot printing, including 35 countries.
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