Options Update: Financial Select Sector and PHLX Bank Index volatility stays elevated

Posted Mar 24th 2009 8:30AM by Paul Foster
Filed under: Options

Financial Select Sector (NYSE: XLF) closed $9.48. XLF top holding in the fund are JPM, WFC, BAC, GS, USB, C, MET, TRV and AXP. XLF April call implied volatility is at 95, puts are at 75; above its 26-week average of 66, according to Track Data, suggesting larger price movement.

PHLX Bank Index (NYSE: BKX) a capitalization-weighted index composed of 24 geographically diverse banks, closed at $30.88. BKX April option implied volatility is at 100; May is at 93 according to Track Data, suggesting large price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Tags: bkx, Financial Select Sector, FinancialSelectSector, option implied volatility, OptionImpliedVolatility, PHLX Bank Index, PhlxBankIndex, xlf