Sprint Nextel (S) calls are busy for a second day. Shares are flat at $4.59 and the focus is on the Oct 5 call options. 22,000 traded through midday. 95 percent traded at the ask and open interest of 11.6K. The top trade is a block of 5000 at the 6-cent ask price, which might be a non-customer or firm buyer. Sprint Nextel calls were busy yesterday as well (see 9/29 color) and the action resulted in 22K contracts of new open interest. Jan 5 calls saw the most new open interest, increasing by 9,779 to 204,483 and currently the largest position in the name (followed by the Jan 6 call with 117,986 in open interest).