Sprint (S) spikes to 52-week highs in active trading of 61.5 million shares Wednesday. The stock is up 24 cents to $5.22 and has more than doubled in value during the past three months. Trading in options on the phone company is busy today as sell. 83,000 calls and 22,000 puts so far. November 6 calls are the most actives. 16,423 contracts changed hands. Sep 5, Sep 6, Aug 5, and Nov 5 calls are the next most actives and implied vols are ticking up 2 percent higher to 49.5. No headlines on the stock today. Shares have rallied more than 50 percent since earnings were reported a few weeks ago and today’s high call volume seems to express some expectations that the sprint higher will continue in the weeks/months ahead.
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.