Stocks quoted in this article:
CapRock Communications (CPRK – 5-1/8) maintains a fiber-optic network that will ultimately reach from Phoenix, Arizona to New Orleans, Louisiana. The network provides long-distance and local telephone service, as well as Internet access, to small and mid-sized businesses in the region. This year has been quite rocky for the security, as it has surrendered over 90 percent of its value since mid-February. This week, CPRK has struggled with technical resistance in the form of its overhead 10-week moving average.
Today, CPRK is seeing very unusual activity in its options pits, as 2,105 options have changed hands on the December 5 call. Only 173 contracts resided at this at-the-money strike before today, suggesting that nearly all of today's volume should translate into new open interest on Monday. A number of large and mid-sized blocks have traded throughout the session so far today, making this the most-active call on the PHLX.