Tessera Technologies Inc.
(TSRA) opened at 24.56. So far today, the stock has hit a low of 21.79 and a high of 24.72. TSRA is now trading at 22.27, up 5.78 (23.53%). The stock hit its 52 week high of 46.43 in June and set its 52 week low of 11.11 in March. TSRA rose for most of the past year, but had a big fall last month. Shares of Tessera Technologies have been surging in early trading after the company announced the International Trade Commission overruled a judge's order to stay a wireless patent case against Motorola
(MOT) and others. A Lehman Brothers analyst also said he sees the ITC's decision as a catalyst for the company's shares. Technical indicators for the stock are bearish and steady. If you’re looking for a hedged play on this stock, consider a June bull-put credit spread below the $12.50 range. TSRA stock could fall up to 12.5% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]