Short term upside calls see action in AT&T ahead of earnings. Nearly 130k contracts have traded in AT&T today with calls leading puts 22 to 9 as shares trade up $0.34, or 2.05%, near $17.14 and 30day at-the-money implied volatility near 29%. Jan 26th 17.5 calls lead the action with 22k contracts trading from 25 to 37c in flow that appears to add to size buying yesterday near 14c whe shares were about 40c lower. Earnings preopen tomorrow with the straddle pricing in a move near 6%, close to the 8qtr mean.
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