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CTL: Unusual Options Activity (incl video)

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CenturyLink (CTL) is a provider of various communication services including local and long distance, cloud hosting, and wireless services. CTL announced earnings on November 7th reporting earnings of $0.66 per share, beating analyst estimates of $0.58. The stock is currently trading around $39.20 in a 52-week range of $34.81-$43.43. The stock is up 5.38% YTD and 6.64% in the past 12 months.

Earlier today there was heavy volume in CTL calls. Paper sold 5000 CTL January 40 calls at $0.55. What is paper? Paper is simply a large order from a mutual fund, hedge fund, retail bank, or large trader. An order of this size is bearish activity in CTL.

Trade: Buy to open CTL January 39-37 put spread for $0.70.

Risk: $70 per 1 lot

Reward: $1.30 per 1 lot

Breakeven: $38.30

Notes: Paper sold 5000 CTL January 40 Calls, bearish activity in the stock. This trade also has a great risk vs. reward setup.

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At the time of publication, Andrew Keene held no positions in the stocks or issues mentioned.

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