ConocoPhillips (NYSE: COP) closed at $88.25 Wednesday.
Crude oil futures are up 1.79% to $88.55 according to Bloomberg.
Smith Barney has a Hold/Medium risk (2M) rating on COP. Oppenheimer & Co says, "We expect COP shares to perform in line with their peers of major integrated oils."
COP over all option implied volatility of 35 is above its 26-week average of 31 according to Track Data, suggesting larger movement.
Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com









