Qualcomm (NASDAQ: QCOM) is recently up $8.29 to $53.12. QCOM raised its 2008 revenue & EPS outlook. QCOM and Nokia (NYSE: NOK) said they agreed to end their legal disagreements. QCOM call option volume of 99,545 contracts compares to put volume of 48,346 contracts. QCOM August option implied volatility of 39 is near its 26-week average according to Track Data, suggesting non-directional price movement.

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