Sprint Nextel Corporation (S) $2.60 +1.18%
Sprint (S) adds 6 cents to $2.63 and 25,000 Jan 4.5 puts traded on the stock. 10000 traded at $1.99 when the market sas $1.95 to $1.99. The rest traded at $2 and $2.01. Open interest is 59,875 and the flow possibly closes out one leg of a Jan 4.5 – 5 bullish risk-reversal that traded multiple times in mid-April when the stock was around $4.70 (see 4/11 color). Open interest in Sprint Jan 5 calls, which are now 90 percent OTM, is 202,104 and the largest position in the phone company.
Category: All Stocks, Mid 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.
