Calls Sold on Sonus Networks (SONS)

Shares of Sonus Networks Inc. SONS are higher on the session by 1.11% currently trading at $2.74. The stock has been rallying steadily since a sharp drop in May. The stock is now nearing its pre-sell off price of $2.75. Options traders are selling calls on the name today, betting the stock will not rally past the $2.90 level. The October $2.50 strike was sold nearly 5,000 times, near the bid, on open interest of 26,727 contracts. Call volume is now running at 3.12x the daily average. Sonus Networks, Inc. is a provider of voice, video and data infrastructure solutions for wireline and wireless telephone service providers. The Company's products include infrastructure equipment and software that enable voice services to be delivered over Internet protocol (IP) networks.