Notable Put Options Activity in Level 3 Communications

Shares of Level 3 Communications

are higher on the session by 2.66%, currently trading at $24.66. The stock has been moving largely higher over the past three months and is currently trading above the 50-day moving average. Options traders are focusing on puts today. The strike seeing the heaviest action is the March 2012 $24.00 put, which has traded 1,000 times on open interest of 2,417 contracts. Put volume is outpacing call volume by 3 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.