Calls Purchased on Tenneco Inc. (TEN)

Shares of Tenneco Inc. TEN are higher on the session by 6.97%, currently trading at $27.77. The stock has been moving largely higher over the past six months and is trading at a fresh 52-week high this afternoon. Options traders are buying calls on the name as well. The September $30.00 call was purchased 887 times, on the offer, a short while ago. Open interest on the strike is 20 contracts, signaling new positioning on the strike. It is possible that this is hedge buying to short shares. Call volume is now at 3.13x the daily average. Tenneco Inc. is engaged in the business of manufacturing of automotive emission control and ride control products and systems. The company serves both original equipment manufacturers and replacement markets worldwide