SPDR Homebuilder (XHB) closed at $14.91. Goldman Sachs downgraded the homebuilders to neutral from buy. XHB August and September put option implied volatility was at 39, December at 40; above its 26-week average of 33 according to Track Data, suggesting larger price movement.Panera Bread (PNRA) is expected to report Q2 EPS in late July. PNRA August put option implied volatility was at 34, November is at 37, near its 26-week average according to Track Data, suggesting non-directional price movement.
iPath S&P 500 VIX Short Term (VXX) closed up 3.72% to 25.93.
Update is by Stock Specialist Paul Foster of theflyonthewall.com
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