Consol Energy (NYSE: CNX) has two principle business units: Coal mining & methane gas. Energy legislation has been moving through Capitol Hill committees and is expected to be on the House Floor before year's end. CNX overall option implied volatility of 47 is above its 26-week average of 40 according to Track Data, suggesting larger risk.
Massey Energy (NYSE: MEE), the fourth-largest coal company in the U.S. based on produced coal revenue, closed at $34.32. Bear Stearns says, "MEE signs deal with Essar of India – Reaffirm Outperform rating." MEE overall option implied volatility of 51 is above its 26-week average of 47 according to Track Data, suggesting larger price fluctuations.
Daily Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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