Calls Purchased on Verizon Communications (VZ)

Shares of Verizon Communications Inc. VZ ended flat on the session, trading at $28.62. The stock popped toward the end of the session after Bloomberg reported that the company would begin selling the iPhone in January. Option trading has heated up on the name; over 3x the average daily volume has now traded. Traders were going after the calls with the October $31 strike purchased 6,500 times, on the offer, for $0.44. The July $29.00 call was also active, trading more than 16,000 times on open interest of 34,800 contracts. Verizon Communications Inc. is a provider of communications services. Verizon operates in two segments: Domestic Wireless and Wireline. Its Domestic Wireless's products and services include wireless voice and data services and equipment sales across the United States. Wireline's communications products and services include voice, Internet access, broadband video and data, next generation Internet protocol (IP) network services, network access, long distance and other services.