Chevron (NYSE: CVX) closed at $70.48. CVX interim Q1 2009 earnings are scheduled to be released on April 9. WTI Crude futures are recently up .93% to $53 according to Bloomberg. CVX April and May option implied volatility of 41 is below its 26-week average of 52, according to Track Data, suggesting decreasing price movement.
United States Oil Fund (NYSE: USO) is recently down 12 cents to $30.81 in pre-open trading. USO unit net asset value reflects the performance of the spot price of West Texas intermediate light crude. USO April option implied volatility is at 69; May is at 62; near its 26-week average of 67, according to Track Data, suggesting non-directional price movement.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
Closing Bell: Stock bulls and dollar death (DDRX,GMCR, PEET, SBUX, EBAY, CI, TECD)
So long peak oil, here comes peak uranium
Black Friday expected to be strong, no promises for Christmas
