Wells Fargo (NYSE: WFC) is recently trading at $29.85 in pre-open trading, below its close of $31.68. WFC said it would raise $10 billion, primarily through the sale of common stock to help fund its purchase of WB. WFC November option implied volatility is at 90, December is at 80; above its 26-week average of 74 according to Track Data, suggesting larger price movement.
Morgan Stanley (NYSE: MS) closed at $17.06 Wednesday. MS Novmeber and December option implied volatility of 132 is above its 26-week average of 89 Track Data, suggesting larger price movement.
JP Morgan (NYSE: JPM) is recently trading at $38.95 in pre-open trading, below its close of $39.22. JPM December option implied volatility of 62 is above its 26-week average of 50 according to Track Data, suggesting larger price movement.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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