Clearwire (CLWR) adds 19 cents to $5.25 and the Jun 5 – 7 call spread is apparently bought-to-open at 73 cents, 5000X on AMEX. Separately, a block of 2000 Sep 4 puts was bought at 60 cents per contract, which also looks opening. Players are taking positions in CLWR after a six-day 12.2 percent decline in shares. The stock was under pressure yesterday on news of the AT&T bid for T-Mobile, which is seen as a negative for Sprint. Clearwire runs broadband and is currently handling Sprint’s 4G wireless network.
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.