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Option update 8-1-07: Volatility indicating increased movement in market

Posted Aug 1st 2007 4:45PM by Paul Foster (RSS feed)
Filed under: Options, ,

Bear Stearns-(NYSE-BSC) volatility Elevated at 56; above 26-week average of 31. BSC is recently down $5.78 to $115.49. BSC August & September option implied volatility of 56 is above its 26-week average of 31 according to Track Data, suggesting larger price movement.

Lehman Brothers Holdings, Inc. (NYSE: LEH) volatility Elevated at 55, above 26-week average of 30. LEH is recently down $2.47 to $59.56. LEH call option volume of 16,716 contracts compares to put volume of 18,651 contracts. LEH August & September option implied volatility of 55 is above its 26-week average of 30 according to Track Data, suggesting larger risk.

Volatility Index S&P 500 Options-VIX up 1.34 to 24.86.


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

KKR playing catch-up with Blackstone

Posted Jun 26th 2007 1:05PM by Tom Taulli (RSS feed)
Filed under: Private equity, Goldman Sachs Group (GS), Morgan Stanley (MS), Blackstone Group L.P (BX)

While the over-hyped Blackstone Group (NYSE: BX) IPO has proved to be mostly lackluster, it still looks like KKR is gunning for an IPO (hey, Blackstone's valuation is still at nosebleed levels).

According to a report in TheDeal.com [a paid service], KKR has initiated the process of becoming a broker dealer. This means the firm will be able to buy and sell securities (and generate commissions on the transactions).

Keep in mind that Blackstone has had this license for a long time because of its advisory business.

But, the license allows for other lucrative businesses, such as IPOs (where the fees have remained juicy). No doubt, it's been good to such financial powerhouses like Morgan Stanley (NYSE: MS) and Goldman Sachs (NYSE: GS).

So, at the end of the day, we may actually see KKR and Blackstone become like the other diversified financial players. And, at the same time, the traditional financial firms will try to look more like Blackstone and KKR.

Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.

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Last updated: November 12, 2009: 03:58 AM

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