AT&T (T) and Verizon (VZ) are among the three biggest losers in the Dow Jones Industrial Average today (HD is the other) after rival Sprint (S) confirmed that it is in talks with Softbank about a potential substantial investment. VZ dropped 1.2 percent and AT&T shares are off .9 percent to $36.52. Trading in the options is active as well, with about 10,000 calls and 14,000 puts traded in VZ. 43,000 puts and 10,000 calls traded in T. December 37 puts are the most active. 14,860 traded (97 percent Ask) against 7,226 in open interest. Jan 37 puts are the second most actives. 9,000 contracts changed hands (70 percent Ask) and implied volatility in the options on AT&T is moving up 8 percent to 17.
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.