Calls Purchased on Level 3 Communications (LVLT)

Shares of Level 3 Communications LVLT are higher on the session by 6.16%, currently trading at $1.89. The stock has been moving largely higher over the past six months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A short while ago the June 2011 $1.50 call was purchased 1,500 times, on the offer, on open interest of 21,676 contracts. Overall call volume is now running at 2.02x the daily average with 73% of all calls traded being purchases on the offer. Level 3 Communications, Inc. is engaged in the communications business. The company is a facilities based provider of a range of integrated communications services.