Speaking to Benzinga, TD Ameritrade Chief Strategist JJ Kinahan said that options typically traded in low volumes on Tiffany & Co. TIF.
Looking at implied volatility, Kinahan observed that the stock was at its 80th percentile, therefore, the options were trading at a relatively higher volatility then they had in the past.
Kinahan said there had been greater buying interest in March $90 Calls and noted that traders were speculating to the upside.
The company was scheduled to report Q4 earnings on Friday before the open.
Ahead of its earnings release, Tiffany & Co. traded at $86.57, up 1.31 percent.
Kevin Riley and Brianna Valleskey contributed to this report.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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