TreeHouse Foods Rips Higher; Calls Active
Shares of TreeHouse Foods (THS) are moving higher today. Currently, THS is up by 3.06%, trading at $52.61. There have been rumors of consolidating in the space this past week and, given the three-month performance of THS, it looks like some traders are taking a shot here.
Call volume is running at 8x normal volume with 3,205 contracts traded. The majority of the action is on the November $60.00 strike, where 3,000 calls were bought, on the offer, for $0.50. Given open interest of 114 contracts, this is clearly new positioning.
Implied and historical volatility have been carrying a large premium from the past two weeks, at 29% and 13%, respectively. Implied is ticking higher today as well.
TreeHouse Foods, Inc. is a food manufacturer. The company's products include non-dairy powdered creamers, private label canned soups, salad dressings and sauces, powdered drink mixes, hot cereals, macaroni and cheese, skillet dinners, Mexican sauces, jams and pie fillings, pickles and related products, aseptic sauces, refrigerated salad dressings, and liquid non-dairy creamer.
View Michael Zerinskas's post archive >