NEW YORK (AVAFIN) -- Options traders were heavily trading options contracts during the market session
establishing a new 3-month volume record for shares of Level 3 Communications. A total of 4,772 put and
7,031 calls were traded equating to a 0.68 put/call ratio.
Options are useful tools for predicting the movement of the underlying stock. Put/Call ratio
statistics serve as a useful predictor of investment sentiment, indicating what experienced
investors are doing in preparation for a move of an underlying stock. Thus, unusual volume
provides reliable clues that the stock is expected to make a move.
Shares of Level 3 Communications gained $0.09 (+0.37%) to $24.66. The last trading session witnessed a
low of $24.57 and high of $25.26 during the day. The current trading volume of 2M is greater
than average volume of 1M shares. LVLT is trading above the 50 day moving average
and higher than the 200 day moving average. The stock's 52 week low is $16.36 and 52 week high is $27.99. To date, the stock has lost -0.97% within the last week.