Volatility Sold on Leap Wireless (LEAP)

Shares of Leap Wireless International

are lower on the session by 4.93%, currently trading at $12.34. The stock has been drifting lower for the past six months and is trading in a technical downtrend. Options traders are selling volatility in the name today. The July $12.50 put was sold 1,065 times, on the bid, on open interest of 12,101 contracts and the July $14.00 call was sold 4,000 times on open interest of 4,394 contracts. The January 2011 $5.00 put was also sold 1,400 times on open interest of 3,492 contracts. While these trades were not linked, they do represent overall trader sentiment, which says that options premiums on both calls and puts are over priced. Leap Wireless International, Inc. is a wireless communications carrier that offers digital wireless services in the United States under the Cricket brand. Its Cricket service offerings provide customers with unlimited wireless services for a flat rate without requiring a fixed-term contract or a credit check. See Some of the Top Moving Indexes