Research in Motion (NASDAQ: RIMM) is recently down $5.58 to $51.60 in pre-open trading. The company reaffirmed its financial guidance for Q4 and expects revenue for the quarter to be at or near the mid-point of the previously guided range. RIMM will announce Q4 financial results on April 2. RIMM February 50 straddle is priced at $7.73, RIMM March 40 straddle is priced at $10.90. March option implied volatility of 80 is above its 26-week average of 70, according to Track Data, suggesting larger price movement.
Micron Tech (NYSE: MU) closed at $4.02. MU and Elpida Memory submitted an industry consolidation plan on February 6 to the Taiwan government in an attempt to receive financing. MU March option implied volatility of 95 is near its 26-week average according to Track Data, indicating non-directional price movement.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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Reader Comments (Page 1 of 1)
2-11-2009 @ 9:55AM
Beltway Greg said...
There will be only one big winner from this era and that will be Apple. Also, get long commodities there is no way oil is staying at $39.00/barrel. We'll survive; the bottom is near. The pricks who dumped on Wall Street yesterday were the same people who got us into this mess: sorry boys no easy out this time. There's a new sheriff in town.