Notable Call Options Activity in Level 3 Communications

Shares of Level 3 Communications (NASDAQ: LVLT) are higher on the session by 9.21%, currently trading at $1.66. The stock has been moving largely higher over the past few session and is currently testing the 50-day moving average.Options traders are focusing on calls today. A short while ago the October 2011 $2.00 call traded 1,700 times on open interest of 1,798 contracts. Calls are highly active, in size, in January 2012. Calls are outpacing puts today by 7 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. It offers a range of communications services, which include network and Internet services, colocation service, media services and voice services.