Patriot Coal (NYSE: PCX) is recently up $8.91 to $117.
Freidman Billings says: "we are raising our 2009 and 2010 steam coal price outlook by about 25%."
PCX June option implied volatility of 70 is above its 26-week average of 56 according to Track Data, suggesting larger price movement.
Massey Energy (NYSE: MEE), a coal producer, is recently up $5.52 to $70.14.
Freidman Billings upgraded MEE to Outperform from Market Perform.
MEE June option implied volatility of 65 is above its 26-week average of 54, suggesting larger price fluctuations.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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