Option update: Accenture October implied volatility elevated into earnings per share and outlook

Accenture Ltd. (NYSE: ACN) is expected to report earnings per share (EPS) on September 27th.

The Bear Stearns Companies, Inc. (NYSE: BSC) has an outperform rating on ACN. Bear Stearns says "we expect management to reiterate their 9% to 12% constant currency revenue growth guidance for fiscal-year 2008." BEST goes on say "ACN has long been a candidate for inclusion in the S&P 500, but has never been chosen. That said, when First Data-FDC goes private, there is a chance that ACN will be selected." ACN October option implied volatility of 34 is above its 26-week average of 26 according to Track Data, suggesting larger price fluctuations.

Motorola, Inc. (NYSE: MOT) up 32 cents to $18.20.

Renewed and unconfirmed chatter is circulating that Motorola Chairman and CEO Edward Zander may step down. RBC Capital Markets says "We're upgrading MOT to Outperform based on our view MOT is displaying firming trends in its once beleaguered handset division." RBC Capital Markets has a $21 price target on MOT. MOT call option volume of 27,010 contracts compares to put volume of 8,124 contracts. MOT October option implied volatility of 30 was near its 26-week average of 29 according to Track Data, suggesting non-directional risk.

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