Unusual Options Activity: Traders bet T-Mobile US, Inc. (TMUS) Will Continue to Build on Recent Gains
Traders are betting Tuesday that T-Mobile US, Inc. (TMUS) will continue to build on its recent gains after hitting an all time high of $75.32 on May 10. So far today, 27,128 contracts of the August 82.50 call have changed hands, against open interest of just 13 contracts.
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About T-Mobile US Inc.
Deutsche Telekom merged its T-Mobile USA unit with prepaid specialist MetroPCS in 2013, creating T-Mobile US. Following the merger, the firm provided nationwide service in major markets but spottier coverage elsewhere. T-Mobile has spent aggressively on low-frequency spectrum, well suited to broad coverage, and has substantially expanded its geographic footprint. This expansion, coupled with aggressive marketing and innovative offerings, has produced rapid customer growth. The firm now serves 37 million postpaid and 21 million prepaid phone customers, equal to about 19% of the retail wireless market, and about 16 million wholesale customers through offerings like America Movil's TracFone. T-Mobile is now the third largest carrier in the U.S., trailing AT&T and Verizon.