Sprint Nextel Corporation (S) $6.72 -4.32%

| March 10, 2008 More

Sprint Nextel Put Sales. The May puts (6,7, and 8 strikes) are seeing selling today. A total of 23,000 put contracts have traded, compared to 11,000 call options, and sentiment is 59 percent bullish. The activity comes after a guest on CNBC commented on recent takeover speculation and chatter that Sprint Nextel has hired Morgan Stanley to explore strategic alternatives. Friday, NY Times DealBook also discussed the chatter, noting that Merrill analysts suggest that Deutsche Telekom, which owns T-Mobile, might be interested in Sprint to help avert a price war.

Category: All Stocks, Large Cap Stocks, Mobile Telecommunications

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About the Author (Author Profile)

Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.

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