Limited gains seen for Tenet Healthcare
Traders are willing to unload shares in Tenet Healthcare.
OptionMonster's market scanners show that 10,300 February 19 calls were sold for $0.25 to $0.30. Volume surpassed open interest of 6,521 contracts, an indication new money was put to work.
Short calls generate income and fix the price where a stock must be sold. (See our Education section.) The strategy is usually done in conjunction with long shares, reflecting a belief upside will be limited through expiration.
THC rose 1.54 percent to $15.21 in afternoon trading but is down 32 percent in the last three months. The last quarterly report on Oct. 31 was bearish. The next set of numbers are estimated for after the close on Feb. 21.
Overall option volume was 6 times greater than average.
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