General Motors (NYSE: GM) closed at $2.50. GM is required to submit a recovery plan to the government today as a part of an agreement to receive billions of dollars of federal assistance. GM Feb 3 straddle is priced at 69 cents, GM Feb 2.5 straddle is at $1.18 according to Track Data, suggesting larger price movement.
Seagate (NYSE: STX) closed at $4.37. STX's Chairman of the Board Stephen Luczo purchased 500,000 shares of STX on February 12, 2009. STX March option implied volatility of 120 is above its 26-week average of 89, according to Track Data, suggesting larger price movement.
Palm (NASDAQ: PALM) closed at $8.70. GSMA Mobile World Congress is being held in Barcelona today. PALM March option implied volatility of 122 is above its 26-week average of 107, according to Track Data, suggesting larger price movement.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
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Reader Comments (Page 1 of 1)
2-17-2009 @ 8:22PM
Ann Adams said...
GM's stock has gone from $64 when Rick Wagoner took over to less than $3 today. GM is made up of over 90% of men in middle to upper management positions despite over 65% of women as the primary purchaser of new cars. Also, GM has a history of sex discrimination and harrassment. Some examples include the Mexican plant where women had to be inspected to see if they were menstrating in order to work at the plant and a Northeast American plant where black women were harrased by men wearing black stockings over their privates to note that the black women had black private hair. GM is sick.