Qualcomm (NASDAQ: QCOM) is recently down $2.76 to $37 in pre-open trading.
Jeffries says: "QCOM guided slightly lower than our and consensus estimates for Dec Q." Jeffries has a $50 price target on QCOM.
QCOM overall option implied volatility of 39 is above its 26-week average of 34 according to Track Data, suggesting larger risk.
Wachovia (NYSE: WB) expects to increase allocation for loan losses on CDO's deteriorating further after Q3 results.
WB, the fourth-largest U.S. Bank, is recently trading at $38 in pre-open trading below its close of $40.30.
WB November 40 straddle is priced at $3.35. WB December option implied volatility of 54 is above its 26-week average of 28 according to Track Data, suggesting larger price risks.
Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
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