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

Stone Energy-(NYSE: SGY) implied volatility, volume & share price Rises. SGY, an independent oil and natural gas company based in Louisiana, will announce EPS on 5/8/07. SGY is recently up $1.79 to $31.72 on unconfirmed takeover speculation. EPL offered to purchase SGY for $52 cash on 5/25/06. On 10/12/06 EPL terminated its merger with SGY. SGY announced on 4/26/07 the SEC ended an informal probe of SGY's proven hydrocarbon reserves. SGY call option volume of 2,816 contracts compares to put volume of 32 contracts according to Track Data. SGY May option implied volatility of 50 is above a level of 31 from ten minutes ago (as of this writing) and its 26-week average of 30 according to Track Data, suggesting larger risk.

Ceridian-(NYSE: CEN) May option volatility increases as CEN rallies on chatter. CEN, an information services company principally in the human resource, transportation and retail markets, is recently up .91 to $35.03. TheDeal.com reported a deal for CEN could be near. CEN has a market cap of $4.93 billion, long-term debt of $83 million and cash & short term investments of $294 million. CEN reported 2006 revenues of $1.56 billion. CEN May option implied volatility of 35 is above its 26-week average of 26 according to Track Data, suggesting larger price risks.

Option volume leaders today are: Dendreon (NASDAQ: DNDN), Ford Motor Co. (NYSE: F), Citigroup (NYSE: C) and Motorola (NYSE: MOT).

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