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Toyota Motor (TM) is recently down $5.43 to $72.72. Transportation Secretary Ray LaHood said owners of recalled Toyotas should "stop driving" them and bring them to a Toyota dealer for repair, Bloomberg reports.
Toyota is expected to report Q3 EPS after the market close today. Call option volume of 10,509 contracts compares to put volume of 26,337 contracts. February put option implied volatility is at 48, March and April puts are at 42; verses its six-month average of 29, according to Track Data, suggesting larger near term price movement.
Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
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Reader Comments (Page 1 of 1)
2-03-2010 @ 2:16PM
mapoftazifosho said...
LaHood has since retracted his statement. The guy is a moron...
What’s scary is how clueless about automotive safety the Transportation Secretary is: I've watched video in which he recommended people shut off the engine, and the person to whom he was speaking, random congressman, had to remind him that doing so would kill power assist for brakes and steering...
I digress.
I'm still holding out because this brand is going to continue to take a beating which may drive the price even lower.
In the long run, I think this brand will rebound and be fine.
Consumers forgot about Ford's Firestone tire debacle.
2-03-2010 @ 6:05PM
e.krabs said...
I don't know about you guys, but I think this pullback is a buy. There isn't anything fundamentally wrong with the company, and they're on top of it. If I'm wrong, please let me know, because otherwise, I'm setting up to buy in.
2-04-2010 @ 10:36AM
mapoftazifosho said...
I think it's a good buy and I intend to do the same...but in a few days.
The media is REALLY giving it to Toyota and there is now a brake issue with the 2010 Prius.