Sprint surges 80 cents to $5.84 this morning on reports Softbank might take a partial, or complete, stake in the company — Dow Jones. $6 calls on the phone company are seeing a flurry of activity in early action. Recent trades include a multi-exchange sweep of 1036 of the Oct 6 calls for 20 cents. The market was 18 to 20 cents. 5,945 now traded. The largest trade is a sweep of 5,011 Nov 6 calls for 42 cents when the market was 39 to 42 cents. 11,960 now traded. Total volume in Sprint through the first 5 minutes is 112 million shares, 45,000 calls, and about 10,000 puts.
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.