Option update: Sherwin-Williams up on buyout chatter

Sherwin-Williams Co. (NYSE: SHW) is engaged in the manufacture, distribution, and sale of paint, coating and other related products. SHW is recently up $0.95 to $65.68 on unconfirmed buyout chatter. SHW has a market cap of $8.5 billion with long term debt of $292 million. SHW call option volume of 8,040 contracts compares to put volume of 328 contracts. SHW October option implied volatility of 36 is above its 26-week average of 28 according to Track Data, suggesting larger risk.

Take-Two Interactive Software (NASDAQ: TTWO), an interactive entertainment software game developer, is recently up 33 cents to $17.26. Activist shareholders have been involved in TTWO over the last eleven-months. Unconfirmed and renewed buyout chatter is circulating about TTWO this morning. TTWO call option volume of 2,199 contracts compares to put volume of 225 contracts. TTWO call option implied volatility is at 52; puts are at 61 near its 26-week average of 55 according to Track Data, suggesting non-directional risk.

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