Bulls Awaken to Verizon Calls Following Vodafone Deal: Options
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Options traders are turning bullish on Verizon Communications Inc., convinced it can wring extra profit from its wireless venture and that the stock will rebound after Vodafone Group Plc shareholders are done selling.
The price of bullish calls has climbed to the highest level in seven years compared with corresponding puts, signaling speculation the underlying stock will rise, data compiled by Bloomberg show. Shares of the New York-based phone company have fallen 12 percent since reaching a 13-year high in April in anticipation of the Vodafone transaction.