Telecommunications stock AT&T Inc (NYSE:T) is enjoying a lift today, last seen up 4.3% at $23.99, after better-than-expected fourth-quarter earnings of 52 cents per share on revenue of $33.47 billion. The company also shared strong guidance and unveiled a new $10 billion share buyback.
The strong results are giving AT&T stock a much-needed lift after last session's 52-week low of $22.95. Should these gains hold, it will be T's largest single-day percentage gain since reporting earnings for the same quarter a year ago. In the last nine months, the security has shed 13.7%.
The stock is overdue for a short-term bounce, per its 14-day relative strength index (RSI) of 22.8, which sits in "oversold" territory.
Unsurprisingly, options traders are chiming in. So far, T has seen 36,000 calls and 14,000 puts exchanged, triple the overall options volume typically seen at this point. The weekly 1/30 24.50-strike call is the most popular, followed by the 24-strike call in the same series.
