Motorola (NYSE: MOT) is recently trading at $13.05 in pre-open trading, above its close of $11.50.
Smith Barney says: "The company is finally exploring a structural and strategic realignment of its business. We believe that this will serve as a meaningful catalyst to MOT shares as investors will look past the drag from the underperforming handset business." Smith Barney upgraded MOT to Buy.
MOT overall option implied volatility of 40 is above its 26-week average of 34 according to Track Data, suggesting larger risk.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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