Sprint Ready To Run (S)

Shares of Sprint Nextel Corporation S are higher on the session by 3.32%, currently trading at $4.59. The stock has been moving large in a range for the past six months with $4.00 being support and $5.00 being resistance. One options trader is betting that Sprint can break out of that range with force over the next few months. Just moments ago, the January 2011 $5/6 call spread was purchased 100,000 times for $0.26. Volume exceeded open interest on both strikes. Sprint Nextel Corporation is a holding company that offers a range of wireless and wireline communications products and services for individual consumers, businesses, government subscribers and resellers. The company operates in two business segments: Wireless and Wireline. For more great research like this, as well as how to play it through options…please visit Benzinga's Options & Volatility Edge and Benzinga's Cash Generator.