Garmin (NASDAQ: GRMN) is recently trading up $1.60 to $54.47.
Oppenheimer says: "There is a chance GRMN will elect to only slightly tweak 2008 revenue estimates on its next conference call, which would be a positive."
GRMN July call option implied volatility is at 47, puts are at 54; below its 26-week average of 58 according to Track Data, suggesting decreasing price movement. GRMN puts are more expensive than calls because GRMN is difficult to borrow.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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