Office Depot Inc. (NYSE: ODP) -- volatility up into delay of 3Q EPS on audit committee review. ODP announced the delay of third quarter EPS due to an independent review by the audit committee of the company's vendor program funds. ODP is recently trading at $18.60 in pre-open trading, below its close of $20.29. ODP had 1,186 retail stores in North America and another 369 stores owned, licensed or franchised in other parts of the world as of June 30, 2007. ODP November option implied volatility of 56 is above its 26-week average of 36 according to Track Data, suggesting larger price fluctuations.

FMC Corp (NYSE: FMC) was trading at $59.19 in pre-open trading, above its close of $53.81. Barron's reported "FMC still looks like a tempting target for one of the big rivals or a private-equity shop." FMC is a diversified global chemical company with a market cap of $4 billion. FMC is expected to report EPS on 10/31. FMC November option implied of 33 is above its 26-week average of 25 according to Track Data, suggesting larger risk.

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

Option update: Office Depot volatility elevated into investigation originally appeared on BloggingStocks on Mon, 29 Oct 2007 11:11:00 EST. Please see our terms for use of feeds.