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CenturyLink gets vote of confidence

By optionMONSTER,  June 28, 2012, 12:10:59 PM EDT

CenturyLink has been shuffling sideways for most of the year, and one investor apparently thinks that it will hold its ground.

optionMONSTER's tracking systems detected the sale of about 10,000 July 38 puts for $0.25. Volume was almost twice open interest in the strike.

CTL is down a penny to $38.58 in midday trading and has been fluctuating on either side of $38 since mid-February.

The put seller is now obligated to buy shares in the telecom company if they close below that level, but the entry price would be $37.75 including the credit earned. If it stays above $38, the trader will keep the premium as the puts expire worthless. (See our Education section)

Total option volume in the name is quadruple the daily average.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Options

Referenced Stocks: CTL



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