Call Volume Grows on Sprint Nextel (S)

Shares of Sprint Nextel Corporation S are lower on the session by 1.09%, currently trading at $4.55. The stock has been higher over the past few weeks and has managed to regain the 18, 50, and 200-day moving averages. Options traders are continuing to buy calls on the name. Today the most notable action is coming on the October $5.00 strike, where 22,000 contracts have traded, 95% on the offer. Volume has surpassed open interest of 11,635 contracts. This is the second day in a row that S is seeing notably high call buying. 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.