NEW YORK (AVAFIN) -- Options traders observed high put activity on shares of MetroPCS Communications. There were 7.3 puts traded
for each call contract yielding a 7.30 put/call ratio. Specifically, 93,731 put and 12,833 call
contracts were seen on tape.
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The ratio skew implies that investors are hedging their positions in anticipation of a stock move.
Today's unusual volume activity confirms that traders are re-balancing their portfolios.
MetroPCS Communications is currently trading at $10.16, up $0.11 (+1.09%) in today's trading
session. The shares of the stock were trading between $9.92 and $10.37. Within the last month, shares of PCS have gained 11.30% of their value.
Todays's volume of 8M shares is less than the average volume of 12M
shares. PCS is trading below the 50 day moving average and
higher than the 200 day moving average.
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MetroPCS provides wireless voice and data services on an unlimited fixed-price basis, with no contract required. The carrier serves approximately 8.2 million customers. The company currently owns or has access to wireless licenses covering a population of roughly 146 million in the United States. Formed in 1994 as General Wireless, the company changed its name to MetroPCS in 1999 after it emerged from bankruptcy. MetroPCS initially launched wireless service in 2002.