UBS AG (NYSE: UBS), Switzerland's biggest bank, was forced into a $59.2 billion government bailout. UBS closed at $16.65. UBS over all option implied volatility of 96 was above its 26-week average of 59 according to Track Data, suggesting larger price movement.
Credit Suisse (NYSE: CS) closed at $37.59. CS will tap about $8.8 billion in private fund to boost its capital and pursue growth opportunities. CS over all option implied volatility of 92 is above its 26-week average of 40 according to Track Data, suggesting larger price movement.
Volatility Index S&P 500 Options: VIX at 69.25; 10-day moving average is 56.69.
Volatility Index NASDAQ 100: VXN at 72.93; 10-day moving average is 61.36.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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