Tiffany (TIF) short duration September calls active

Tiffany & Co. (NYSE: TIF) September 69 and 71 calls are active on total call volume of 5,900 contracts (1,500 puts) after a speculative story from Dealreporter about Bill Ackman’s Pershing Square taking a position. September call option implied volatility is at 34, October is at 28; compared to its 52-week range of 21 to 45.

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