Borders (NYSE:BGP) is recently down 29 cents to $8.97, near 12-year low. BGP is expected to report Q4 EPS on March 20. Alex Brown has a Hold rating on BGP. BGP call option volume of 407 contracts compares to put volume of 5,297 contracts. BGP March 10 straddle is priced at $1.90. BGP April option implied volatility of 77 is above its 26-week average of 59 according to Track Data, suggesting hedging for downside price risk.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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