Sprint Nextel Corporation (S) $2.45 -2.00%
Sprint (S) is off 6 cents to $2.44 and May 2.5 calls on the stock see a flurry of activity late-Monday. 25000 recently traded for 25 cents per contract when the market was 24 to 25 cents. Moments later, a multi-exchange sweep of 10000 traded for 25 cent when the market was 23 to 25 cents. 37,360 May 2.5 calls now changed hands in Sprint and levels of implied volatilit in Sprint options is up 6 percent to 52. The stock is down amid weakness in the space on Bernstein downgrades of LEAP and PCS. Yet, Sprint shares ae up nearly 10 percent since 2/22. Earnings were last reported on 2/8.
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.
