Countrywide Financial Corp. (NYSE: CFC) -- implied volatility decreases after Federal Reserve rate cut. CFC, a U.S. home mortgage lender, closed at $19.88. Bank of America says, "We're sticking with our Buy on CFC given several competitive advantages which should help over the long-term." CFC September straddle is priced at $1.25. CFC October option implied volatility of 65 is near its 26-week average of 64 according to Track Data, suggesting non-directional risks.
Genworth Financial Inc. (NYSE: GNW) -- elevated volatility decreases after rate cut. GNW is a financial security company meeting the retirement, longevity and lifestyle protection, investment and mortgage insurance needs of 15 million customers. GNW closed at $30.45. GNW over all option implied volatility of 31 is above its 26-week average of 28 according to Track Data, suggesting larger risk.
Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
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Reader Comments (Page 1 of 1)
9-20-2007 @ 5:48PM
zakia said...
Check out the recently updated www.eyeoncountrywide.info, an independent consumer resource examining sub-prime lending and Countrywide Financial Corporation