Options Players Hone in on Sprint Nextel (S)

Posted on 03/09/2012 by Ella Gold

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NEW YORK (AVAFIN) -- Sprint Nextel options set a new 90-day record for the number of call contracts that exchanged hands between the buyers and the sellers. Aggregate volume of puts was 19,970 and calls was 59,679 equating to a 0.33 put/call ratio.

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A significant increase in the trading volume of a stock's option often is a precursor of movement by the underlying stock. In such instances, put/call Ratio can be used as an investor sentiment indicator, where a high ratio implies that the overall investor sentiment is bearish and a low put/call ratio implies that the sentiment is bullish.

Shares of Sprint Nextel gained $0.18 (+6.92%) to $2.78. The last trading session witnessed a low of $2.57 and high of $2.85 during the day. The current trading volume of 138M is greater than average volume of 39M shares. S is trading above the 50 day moving average and lower than the 200 day moving average. The stock's 52 week low is $2.10 and 52 week high is $6.45. To date, the stock has gained 15.35% within the last month.



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