Hewlett-Packard (NYSE: HPQ) is recently trading at $32.25 in pre-open trading, above its close of $29.34 Monday. HPQ reported Q4 net revenue up 19%, or $5.3 billion, from a year ago. HPQ December option implied volatility of 74 is above its 26-week average of 41 according to Track Data, suggesting larger price movement.
ICICI Bank (NYSE: IBN), India's second largest bank IBN, closed at $15.02 Monday. IBI halved its target for growth in lending to 15% - Bloomberg. The Bombay EX 100 IDX is recently down 3.65%. IBN December option implied volatility of 132 is above its 26-week average of 80 according to Track Data, suggesting larger price fluctuations.
Gap (NYSE: GPS) closed at $10.72 Monday. GPS is scheduled to report Q3 EPS on November 20. Friedman Billings anticipates GPS will set expectations for continued weak margins and heavy promotions. GPS November 10 straddle is priced at $1.50, December 10 is at $2.75. GPS December option implied volatility of 105 is above its 26-week average of 57 according to Track Data, suggesting larger price movement.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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