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Lehman Brothers (NYSE: LEH) April volatility aggressive at 133 as shares at three year lows.
LEH is recently trading at $32.80 in pre-open trading, below its close of $39.26.
LEH said "our liquidity position is and continues to be strong."
JPMorgan (NYSE: JPM) agreed to purchase Bear Stearns (NYSE: BSC) for $2 a share to avert a bankruptcy.
LEH is expected to report Q1 EPS on March 18.
LEH March 40 straddle was priced at $9.60 on March 14. LEH April option implied volatility of 133 is above its 6-month average of 51 according to Track Data, suggesting larger price movement.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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