FedEx (NYSE: FDX) is recently trading at $67.33 in pre-open trading, below its close of $74.43. FDX lowered its fiscal year 2009 outlook. Robert Baird has a $65 price target on FDX. FDX December option implied volatility is at 75, January is at 62; above its 26-week average of 49 according to Track Data, suggesting larger movement.
United Parcel Service (NYSE: UPS) closed at $58.62. FDX lowered its fiscal year 2009 outlook. Crude oil futures are recently down 0.55% to $43.47 according to Bloomberg. UPS December option implied volatility is at 49, January is at 47; above its 26-week average of 39 according to Track Data, suggesting larger price movement.
Volatility Index S&P 500 Options-VIX at 58.49; 10-day moving average is 61.06
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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