Option update: Clearwire (CLWR) sells off; Priceline (PCLN) rallies on travel bookings

Clearwire (NASDAQ: CLWR) terminated WiMax deal with Sprint (NYSE: S).

CLWR is recently down $5.13 to $12.90 in pre-open trading.
CLWR and S dissolved a yet to be finalized joint partnership the companies announced in June.
CLWR, founded by Craig McCaw, builds and operates wireless broadband networks that enable internet communications.
Bear Stearns says: "Mixed 3Q07 results Spring JV cancellation is a Blow."
CLWR overall option implied volatility of 69 is above its 26-week average of 61 according to Track Data, suggesting larger risk.

Priceline (NASDAQ: PCLN) reported Q3 gross travel bookings rose 54%.

PCLN is recently up $12.93 to $97.20 in pre-open trading.
Smith Barney says: "Another big beat and conservative raise – reiterate Buy."
PCLN overall option implied volatility of 68 is above its 26-week average of 40 according to Track Data, suggesting larger price fluctuations.

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

Tags: clearwire, clwr, inthenews, pcln, priceline, s, sprint nextel, SprintNextel