Calls Purchased on Neutral Tandem (TNDM)
Shares of Neutral Tandem (NASDAQ: TNDM) are higher on the session by 2.15%, currently trading at $14.71. The stock has been moving largely lower over the past four weeks and is currently trading below the 50-day and 200-day moving averages.
Options traders are buying calls on the name today. A short while ago the September 2011 $15 call was purchased 784 times, on the offer, on open interest of 146 contracts.
Overall call volume is now running at 5.67x the daily average with 96% of all calls traded being purchases on the offer.
Neutral Tandem, Inc. provides tandem interconnection services principally to competitive carriers, including wireless, wireline, cable and broadband telephony companies.
Competitive carriers use tandem switches to interconnect and exchange local and long distance traffic between their networks without the need to establish direct switch-to-switch connections. As of December 31, 2009, the company had operated in 137 markets connecting calls to an estimated 480 million telephone numbers assigned to carriers.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.