Frontier Communications (FTR) tumbled to $3.81 early and is trading down 22 cents to $4.25 on volume of 23 million shares, which is almost 7X the typical volume. Options action in the Stamford, CT telcomm is picking up as well. (register to read more …) [...]

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AT&T (T) is down $1.37 to $28.25 and the Dow’s biggest loser today after the DOJ moved to block the company’s proposed acquisition of T-Mobile. 69,000 calls and 112,000 puts now traded on Ma Bell. The top trade is a (register to read more …) [...]

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Virgin Media (VMED) loses $1.37 to $22.24 and one strategist sells 10,000 Jan 29 calls at 65 cents to buy 6,000 Jan 25 calls at $1.80. It likely rolls a position opened a few weeks ago when the Jan 29 (register to read more …) [...]

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Verizon (VZ) is down $1 to $36.57 and one of 24 Dow stocks in negative territory through the first hour of trading Friday. Verizon reported a quarterly profit of 57 cents per share on $27.54 billion in revenues. The Street (register to read more …) [...]

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AT&T (T) loses a dime to $30.69 and one investor sells Jun 30 calls at 70 cents and collects 98 cents on the Aug 26 – 30 bearish risk-reversal, 27500X. $1.68 is collected on the three-way and likely closes out (register to read more …) [...]

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Level 3 (LVLT) shares notch a new 52-week high of $1.93 today. The stock is up a dime to $1.89 and in the mist of a four-day 19 percent run higher. The stock’s upward trajectory has caught the attention of (register to read more …) [...]

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The top equity options trades so far today are in AT&T (T) after an investor apparently sold the May 30 – Jun 33 call spread at $1.40, 19200X. AT&T shares are up 12 cents to $31.24 and have performed well (register to read more …) [...]

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Verizon (VZ) adds 8 cents to $38. Options volume is 2.5X the average daily, with 73000 calls and 40000 puts traded on the wireless provider. January 37 calls are the most actives. 17,840 traded (25 percent bid/58 percent ask) vs. (register to read more …) [...]

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AT&T (T) is down 66 cents to $28.28, now the biggest loser in the Dow Jones Industrial Average, and falling to session lows on news Verizon (VZ) will begin offering Apple iPhones beginning early 2011. AT&T shares saw a slide (register to read more …) [...]

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Verizon (VZ) is flat at $28.71 and saw a spike about 30 minutes ago on news the phone company will begin offering iPhones in January. Options action is heating up as well, to 3X the average daily. Recent trades include (register to read more …) [...]

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