Paul Foster
Chicago U.S.A. - http://

Paul Foster, a knowledgeable researcher has 21-years of professional experience in the capital markets, investments, trading, corporate finance, arbitrage, options and mergers and acquisitions.

Harris (NYSE: HRS), an electronics and defense company, is recently trading at $60.22 in pre-open trading, above its close of $54.41 Thursday.

The Wall Street Journal reported HRS has begun exploring its strategic options, and could eventually choose to sell itself, according to people familiar with the matter.

HRS overall option implied volatility of 30 is below its 26-week average of 34 according to Track Data, suggesting decreasing price risk.

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

CNOOC Ltd (NYSE: CEO) -- as of 12/31/06, CEO owned net proved reserves of approximately 2.53 billion barrels of oil.

CEO closed at $180.67 Thursday.

WTI Crude Futures are up 1.65% to $125.73 according to Bloomberg.

CEO over all option implied volatility of 39 is below its 26-week average of 47 according to Track Data, suggesting decreasing risk.

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

American International Group (NYSE: AIG) is recently trading at $40.34 in pre-open trading, below its close of $44.15.

AIG reported a $7.81 billion first-quarter loss and announced plans to raise $12.5 billion.

Bank of America says: "1Q: The downside of high leverage and risk taking."

AIG May option implied volatility is at 63; June is at 48; above its 26-week average of 44 according to Track Data, suggesting larger near term price movement.

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

Citigroup (NYSE: C) is recently down 21 cents to $24.27. C will host an onsite Citi Investor/Analyst Day on May 9. Deutsche Bank says, "We are maintaining our Sell rating. We do not expect a grand strategic scheme." C call option volume of 116,539 contracts compares to put volume of 49,498 contracts. C May 25 straddle is priced at $1.47. C June option implied volatility of 40 is near its 26-week average according to Track Data, suggesting non-directional price risk.

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

Sears Holding (NASDAQ: SHLD) closed at $94.94 Wednesday.

SHLD is scheduled to release Q1 results on May 29.

SHLD June call option implied volatility is at 46, puts are at 56. SHLD average option implied volatility over the last 26-weeks average is 46 according to Track Data. SHLD puts are priced higher than calls because SHLD is difficult to borrow.

NASDAQ 100-QQQQ overall implied volatility at 24; 26-week average is 28.

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

Alcoa Inc. (NYSE-AA) is recently down 30 cents to $37.70.

AA call option volume of 53,011 contracts compares to put volume of 14,940 contracts. AA May 37.5 straddle is priced at $2.90. AA May option implied volatility is at 57; June is at 47, above its 26-week average of 42 according to Track Data, suggesting larger risk.

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

Cisco (NASDAQ: CSCO) reported Q3 EPS of 38 cents.

Robert Baird says: "Good execution in challenging environment after the market close tonight. CSCO is recently down 2 cents to $26.32.

CSCO call option volume of 59,006 contracts compares to put volume of 88,669 contracts. CSCO May 25 straddle is priced at $1.11, below a level of $1.97 just prior to last night's EPS. CSCO June option implied volatility of 28 is below a level of 35 from yesterday and below its 26-week average of 33 according to Track Data, suggesting decreasing price movement.

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

Solarfun Power (NASDAQ: SOLF) is scheduled to report Q1 EPS on May 21. SOLF over all option implied volatility of 75 is below its 26-week average of 94 according to Track Data, suggesting decreasing price risk.

Oil Services Holders (AMEX: OIH) volatility is low at 33 on $122 oil.

NASDAQ 100 (NASDAQ: QQQQ) overall implied volatility is at 24; the 26-week average is 28.

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

Transocean (NYSE: RIG) announced Q1 EPS of $3.71 verses consensus estimates of $3.34.

RIG is recently trading at $162 in pre-open trading, above its close of $157.85 Tuesday.

Crude oil futures are recently up 0.07% to $121.93 according to Bloomberg.

RIG overall option implied volatility of 38 is above its 26-week average of 35 according to Track Data, suggesting slightly larger movement.

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

Advanced Micro (NYSE: AMD) delivers high performance products through four divisions: Processors, ATI Products, Embedded Solutions and Support & Drivers.

Abu Dhabi purchased a $622 million dollar stake in AMD in November 2007.

AMD option volume was heavy on May 6 with 130,784 contracts trading. AMD May option implied volatility is at 68; June is at 50; below its 26-week average of 74 according to Track Data, suggesting decreasing price movement.

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

Cisco Systems, Inc. (NASDAQ: CSCO) scheduled to report Q3 EPS after the market close tonight:

CSCO was recently down 28 cents to $26. CSCO call option volume of 95,092 contracts compared to put volume of 99,581 contracts. CSCO May 25 straddle was priced at $1.97, June at $2.70. CSCO June option implied volatility of 35 was near its 26-week average of 33 according to Track Data, suggesting flatter price movement after EPS.

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

Nvidia (NASDAQ: NVDA) closed at $21.95 Monday.

NVDA is expected to report Q1 EPS on May 8.

Deutsche Bank says: "Reiterate Hold due to lack of new product cycles."

NVDA May 22.5 straddle is priced at $2.25, June 22.5 is at $3.45. NVDA June option implied volatility of 56 is near its 26-week average according to Track Data, suggesting non-directional price risk after EPS.

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

Crocs (NASDAQ: CROX) pre-announced disappointing Q1 results and lowered Q2 revenue guidance growth guidance on April 14.

CROX is expected to announce full Q1 EPS on May 7. CROX closed at $10.11 Monday, near record low.

CROX May 10 straddle is priced at $1.50, June 10 straddle is at $2.50. CROX over all option implied volatility of 86 is above its 26-week average of 82 according to Track Data, suggesting larger price movement.

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

Fannie Mae (NYSE: FNM) is recently trading at $25.80 in pre-open trading, below its close of $28.29.

FNM reported Q1 EPS ($2.57) versus consensus estimates of (81c). FNM announced plans to raise $6 billion through common and preferred offerings. OFHEO will reduce FNM's capital requirement to 15% from 20%. FNM will reduce its 3Q dividend to 25c.

FNM May option implied volatility of 92 is above its 26-week average of 67 according to Track Data, suggesting larger price movement.

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

Aventine Renewable Ener (NYSE: AVR), a producer, marketer and end-to-end distributor of ethanol, closed at $5.43 Friday.

Calyon says: "Target to $5.50 (from $6). Good operating news offset by the increased financing risk and continued high corn prices."

Corn Futures are down 0.49% to 610.50 according to Bloomberg.

AVR overall option implied volatility of 74 is near its 26-week average of 71 according to Track Data, suggesting non-directional price risks.

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