Fortune Brands (NYSE:FO) is recently trading at $58.16 in pre-open trading, below its close of $62.41. FO announced a reduction to its Q2, 2008 earnings outlook on challenging consumer environment. Wachovia has a valuation range of $55 to $60. FO over all option implied volatility of 25 is near its 26-week average according to Track Data, suggesting non-directional price fluctuations.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com










