Options update 1-2-08: Qualcomm volatility flat into injunction

Qualcomm (NASDAQ: QCOM) is recently down $1.55 to $37.85 in pre-open trading.

US District Judge Selna issued a ruling favorable for Broadcom (NASDAQ: BRCM), prohibiting QCOM from selling W-CDMA and CDMA chips in the U.S.

Cowen says: "We continue to recommend shares of QCOM and see the stock appreciating 20% versus the market over the next year."

QCOM overall option implied volatility of 36 is near its 26-week average according to Track Data, suggesting non-directional risk.

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

Tags: brcm, broadcom, cdma, cowen, inthenews, option implied volatility, OptionImpliedVolatility, qcom, qualcomm, w-cdma

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