Shares of Sprint Corp. (S) are down .35 to 8.90 today. ?S is in the middle of the 52-week range.
Today paper traded 25000 Apr/May 10 call spreads for .29.? The ADV is 32523 contracts.? The OI is over 50k contracts on both strikes.
The volume went in two huge blocks.? Trade for the day is mostly this giant time spread with the trader is buying May and selling out the Apr.? It looks like steady buyers of May outside this time spread with the IV up 4 points to 64.5%. The large OI suggests a continuing long position in Sprint.
30-day implied volatility is 64%.?? 10-day implied volatility is 31%.? 30-day implied volatility is trading above the 10-day historical volatility.
Sprint Corporation offers a range of wireless and wireline communications services to consumers, businesses and government users.?