China Petroleum & Chemical (NYSE: SNP), an energy and chemical company based in the People's Republic of China, closed at $99.67 Tuesday.
SNP issued a profit warning on April 19 for 1Q08 indicting that net profits will decline more than 50% on a yoy basis. WTI Crude Futures are down 0.26% to $117.76 according to Bloomberg.
SNP overall option implied volatility of 53 is near its 26-week average of 55 according to Track Data, suggesting non-directional price risk.
Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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Reader Comments (Page 1 of 1)
4-23-2008 @ 10:47AM
moonie said...
Folks this is an emergency like it or not we absolutely have to bring the price of gas down here are the only solutions nothign else will work here it is..!1. start a REVOLUTION we HAVE TO. The campaign has started DON'T BUY GAS ON TUESDAYS ! if enough Americans will do this it will start a revolution. They have to sell oil as it's out of the ground. It depends on how much they sell if they sell less it creats a glut. THINK! if enough people will NOT buy gas on every tuesday. simply gas will come back down, Think about this and PASS THIS ON PLEASE. We have to or we're gona fall!