Sprint Nextel Corporation (S) $2.14 -1.38%
Sprint Nextel (S) loses 2 cents to $2.15 and options volume on the phone company is running 4.5X the daily average, with 52,000 puts and 17,000 calls traded on the stock so far. The top trade is 23,111 Aug 2 puts bought on Sprint for 32 cents per contract to open. 38,666 now traded against 2,220 in open interest. Bearish trading is possibly a play on earnings. The company is due to report on Feb 8 and has experienced average daily post-earnings moves of 8.8 percent over the past four quarters — including a 15.9 percent slide on 7/28.
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.
