Aventine Renewable Ener (NYSE: AVR), a producer, marketer and end-to-end distributor of ethanol, closed at $5.43 Friday.

Calyon says: "Target to $5.50 (from $6). Good operating news offset by the increased financing risk and continued high corn prices."

Corn Futures are down 0.49% to 610.50 according to Bloomberg.

AVR overall option implied volatility of 74 is near its 26-week average of 71 according to Track Data, suggesting non-directional price risks.

Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com