A wise move (the put's). A lot can happen between now and February. With the election, fiscal cliff, and uncertain macro economic environment I think if anything Sprint will be stuck in a trading range in the low to high 5's.
My bias is to the low end (as it is for the market as a whole) so I am for the most part sitting on the sidelines awaiting the election and to see if there is any movement re: the fiscal cliff.
To be sure, I'd like to get back into Sprint once there is more clarity re: new structure, capitalization and most importantly strategy.