Level 3 Communications, Inc. (NASDAQ: LVLT), an integrated communications services company, is recently up 41c to $4.31:
Goldman's Sachs said on June 4th "part of the stock's recent run is likely related to reduced fears of a dilutive convert, and hence an element of related short covering." LVLT call option volume of 26,862 contracts compared to put volume of 2,153 contracts. LVLT July option implied volatility of 68 was below its 26-week average of 79 according to Track Data, suggesting decreasing price movement.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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