Temple-Inland Jumps; Attracts Call Buying (TIN)

Shares of Temple-Inland Inc. TIN are higher on the session by 4.31%, currently trading at $17.91. The stock has been moving largely lower over the past five weeks, but has bounced off of the $16.00 support level and is now screaming back toward to 50-day moving average, near $19.00 Options traders are buying calls on the name in size. The October $19.00 call was purchased 5,000 times, on the offer, a short while ago for $0.70; open interest on the strike is only 24 contracts. This signals new, bullish positioning on the name. Call volume is significantly above the daily average of 257 calls. 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. Temple-Inland Inc. manufactures containerboard (linerboard and corrugating medium) and converts it into a line of corrugated packaging. For more great research like this, as well as how to play it through options…please visit Benzinga’s Options & Volatility Edge and Benzinga’s Cash Generator.