Examining Options and Block Trading Activity for Sprint Nextel

Posted on 06/14/2012 by Jane Lacave


NEW YORK (AVAFIN) -- A total of 702 block trades were executed during the market session, typically at least 10,000 shares or more represent a single block unit. Block trading activity shows that $32,555,755 worth of shares were bought and $19,891,621 worth of shares were sold by institutional investors. The positive net cash flow of $12,664,133 into the stock shows that investment houses have positive outlook for shares of Sprint Nextel.

A deeper look into options trading also reveals that traders hedged their positions with options where 4,168 put and 26,790 call contracts exchanged hands leading to a 0.16 put/call ratio.

The last trading session witnessed a low of $2.90 and high of $3.11 during the day. Shares of Sprint Nextel gained $0.16 (+5.44%) to $3.10. The current trading volume of 59M is greater than average volume of 50M shares. The stock's 52 week low is $2.10 and 52 week high is $5.75. Within the last quarter, the shares have gained 10.71% of their value.

Sprint Nextel is the third-largest carrier in the United States, serving 47 million customers directly and 6.3 million via resellers using two separate nationwide networks. About 13% of sales come from the long-distance unit, which provides fixed-line phone and data services. The firm spun off its fixed-line local phone business in 2006, acquired Virgin Mobile in 2009, and owns a roughly 53% stake in Clearwire.

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Market Snapshot (06/14/2012)
  SPX 1329.33 14.45 1.10%
  DOW 12653.2 156.80 1.25%
  NASDAQ 2836.33 17.72 0.63%
  VIX 21.97 -2.30 -9.48%

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