Nucor (NYSE: NUE), an operator steel mills and marketer of steel products, closed at $32.27 Tuesday. NUE December option implied volatility of 91 is above its 26-week average of 73 according to Track Data, suggesting larger price movement.
AK Steel (NYSE: AKS), a producer of steel products, closed at $6.86 Tuesday. AKS December 7.5 straddle is priced at $2.40, January 7.5 straddle is priced at $3.50. AKS January option implied volatility of 158 is above its 26-week average of 102 according to Track Data, indicating larger price movement.
Mechel Steel (NYSE: MTL) closed at $4.59 Tuesday. MTL is a Russian mining, steel and power company. MTL December 5 straddle closed at $2.25, January 5 straddle closed at $3.15. MTL April option implied volatility of 185 is above its 26-week average of 117 according to Track Data, suggesting larger price fluctuations.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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