I hadn't noticed the puts/calls until you mentioned it. I wouldn't be surprised to see this trade close to the buyout offer above $7. Maybe some are just hedging a long with puts, or playing the upside with calls. Maybe they are heging a short with the calls and thinking the deal won't go through?
When it comes to Sprint, Rony knows best. We can't even get Kelp on here for a contrarian indicator anymore. LOL.