Honeywell (NYSE: HON) is hosting its 2008 guidance announcement on December 13. Alex Brown says, "We expect a bullish outlook from HON." HON overall option implied volatility of 28 is near its 26-week average of 27 according to Track Data, suggesting non-directional risk.

United Technologies (NYSE: UTX) is hosting its 2008 outlook meeting on Thursday, December 13. Smith Barney says, "Buy UTX; Sell BA – Use any strength in BA's stock to switch to UTX." UTX overall option implied volatility of 24 is near its 26-week average according to Track Data, suggesting non-directional risk.

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

Macy's (NYSE: M) is expected to report Q3 EPS of 8 cents on 11/14 according to Thomson First Call. M operates 850 stores in 45 states. M overall option implied volatility of 54 is above its 26-week average of 40 according to Track Data, suggesting larger risk.

J.C. Penney (NYSE: JCP) is expected to report 3Q EPS of $1.02 cents on November 15 according to Thomson First Call. JCP closed at $46.31. Alex Brown lowered its price target on JCP to $83 from $55 on November 12. JCP overall option implied volatility of 56 is above its 26-week average of 38 according to Track Data, suggesting larger price risks.

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

Intuitive Surgical Inc. (NASDAQ: ISRG) develops, manufactures and markets robotic technologies designed to improve patient returns.

• ISRG is expected to report EPS on 10/18.
• Oppenheimer says: "We believe any competition ISRG faces is at least 7-10 years away. We believe the recent sell-off offers an opportunity. We continue to rate shares Buy and reiterate our $270 price target."
• ISRG October 250 straddle is priced at $30.90. ISRG overall option implied volatility of 80 is above its 26-week average of 48 according to Track Data, suggesting larger price risk.

Yahoo! Inc. (NASDAQ: YHOO) is expected to report EPS of 8 cents 10/16 according to Thomson First Call.

• Alex Brown has a Hold rating and a $24 price target on YHOO.
• Alex Brown says: "We expect YHOO to report 3Q results in-line to slightly below expectations, as US traffic declines of 9% and search volume slowdown may pressure growth."
• YHOO October 27.5 straddle is priced at $2.71. YHOO November option implied volatility of 51 is above its 26-week average of 36 according to Track Data, suggesting larger risk.

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

Visit AOL Money & Finance for more earnings coverage

Procter & Gamble (NYSE: PG) closed at $70.91.

• On 10/1/07 The Financial Times Merger Market reported PG is looking to sell its Duracell unit, as well as its Pringles and Folgers units according to sources close to the matter.
  
• PG overall option implied volatility of 19 is near its 26-week average of 18 according to Track Data, suggesting non-directional risk.

Hershey (NYSE: HSY) closed at $47.41.

• HSY Chairman and CEO Rick Lenny resigned.
  
• Alex Brown says: "We retain our Hold opinion, but lower our target from $48 to $45. With CEO Lenny leaving at 2007-end, we believe fundamental pressures and less likelihood of sale point to a lower valuation."
  
• HSY overall option implied volatility of 23 is near its 26-week average of 22 according to Track Data, suggesting non-directional risk.

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

General Motors Corp. (NYSE: GM) is recently trading up $1.46 to $35.93. GM and the United Auto Workers announced a tentative agreement on a new national contract. Alex Brown says, "this contract represents an inflection point for GM. We believe this should significantly improve competitiveness, cash flow, and valuation." GM October option implied volatility of 61 is above its 26-week average of 46 according to Track Data, suggesting larger risk.

Chevron Corp. (NYSE: CVX) is an integrated energy company with a market cap of $195 billion and quarterly June 2007 revenue of $56 billion. CVX closed at $91.88. CVX announced a program to acquire up to $15 billion of common stock over a period of up to three years. Crude oil futures are up 0.79% to $80.16, according to Bloomberg. CVX overall option implied volatility of 27 is above its 26-week average of 24 according to Track Data, suggesting larger risks.

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