Bears Dial Millicom Cellular

Shares of Millicom International Cellular MICC are up on the session by 0.71% to $87.12; shares are now trading right on the 50-day moving average from the downside. Technical resistance looks strong at this level, though; a break to the upside seems unlikely. Options traders in Millicom International Cellular seem to be seeing the same thing as they are buying puts in the name and driving put volume to 2.62x the daily average. 96% of all puts traded have been purchases on the offer, which signal general bearishness on the stock. The July $80 put was purchased 1,200 times for $4.30 a short while ago.