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Option Update: Chicago Bridge & Iron volatility elevated into lower guidance & charge

Posted Jul 16th 2008 9:30AM by Paul FosterPaul Foster RSS Feed
Filed under: Options


Chicago Bridge & Iron (NYSE: CBI), was trading at $31.39 in after market trading last night, below its close of $36.39 Tuesday.

CBI lowered guidance for 2008 and will take a Q2 pretax charge of $317 million on cost over runs associated with two LNG projects in the UK. Goldman Sachs says: "Lowering rating to Neutral on nagging execution risk."

CBI August option implied volatility of 66 is above its 26-week average of 53 according to Track Data, suggesting larger price movement.

Financial Select Sector-XLF overall volatility at 51; 26-week average is 36

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

Tags: cbi, chicago bridge and iron, ChicagoBridgeAndIron, Financial Select Sector-XLF, FinancialSelectSector-xlf, option implied volatility, OptionImpliedVolatility

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