Notable Call Options Activity on Level 3 Communications

Shares of Level 3 Communications

are lower on the session by 2.90%, trading at $16.73. The stock has been moving largely lower over the past three months and is currently trading below the 50-day moving average. Options traders are focusing on calls today. The strike seeing the heaviest action is the March 2012 $21.00 call, which has traded 1,300 times on open interest of 2,158 contracts. Call volume is outpacing put volume by 100 to 1. Level 3 Communications, Inc. is engaged in the communications business. Level 3 is a facilities-based provider of a range of integrated communications services.