Option update 4-18-07: HNZ calls active as HNZ trades to record price

Daily Option Update is provided by Stock Options Specialist Paul Foster of theflyonthewall.com.

Heinz-(NYSE: HNZ) out of the money May 50 calls active; HNZ trades to Record. HNZ is recently up $1.35 to $48.28. Nelson Peltz, an activist shareholder, has been a holder of HNZ shares over the last 20-months in an attempt for HNZ to lower annual costs, sell assets and return more to shareholders. HNZ May 50 calls have traded 254 times on transaction volume of 5,990 contracts above its open interest of 402 contracts. HNZ May 50 calls are bid .35 cents, near its theoretical value of .35 cents according to Track Data, suggesting non-directional price fluctuations.

Advanced Micro-(NYSE: AMD) calls active, May option implied volatility increases to 46. AMD, a global semiconductor company, is recently up .64 to $14.56. On 12/1/05 Silver Lake and Kohlberg Kravis Roberts formed Avago Technologies through the acquisition and carved out of the Semiconductor Products Group from Agilent Technologies, Inc. (NYSE: A) (formerly a division of HPQ) for $2.66 billion, one of the largest private equity buyouts of a semiconductor company. AMD call option volume of 52,272 contracts compares to put volume of 28,105 contracts. AMD May option implied volatility of 46 is above yesterday's level of 43 and its 26-week average of 43 according to Track Data, suggesting slightly larger price risks.

Option volume leaders today are: Yahoo (NASDAQ: YHOO), Motorola (NYSE: MOT), Amgen (NSDAQ: AMGN) and Intel (NASDAQ: INTC).