Citigroup (NYSE: C) is recently trading at $5.59 in pre-open trading, above its close of $4.71 Thursday. C November 5 straddle is priced at $1.18, December is at $2.83. C March option implied volatility of 187 is above its 26-week average of 67 according to Track Data, suggesting larger price movement.
JP Morgan Chase (NYSE: JPM) is recently trading at $25 in pre open trading, above its close of $23.38 Thursday. JPM December option implied volatility of 140 is above its 26-week average of 61 according to Track Data, suggesting larger price movement.
Wells Fargo (NYSE: WFC) is recently trading at $23.50 in pre-open trading, above its close of $22.53 Thursday. WFC purchase of Wachovia (NYSE: WB) for 0.1991 per share of WFC is expected to close in late 2008. WFC December option implied volatility of 137 is above its 26-week average of 60 according to Track Data, suggesting larger price movement.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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