VeriFone Holdings (NYSE: PAY) is recently down $22.37 to $25.68 after announcing it will restate 1Q, 2Q and 3Q results related to in-transit inventory. PAY's technology enables electronic payment transactions and value-added services at the point of sale. Wachovia says, "we would be buyers into the weakness." PAY set a $200 million private placement of equity on Nov. 27; the sale was expected to close on December 11.

Dow Jones reported on November 30 that PAY's Chairman Douglas Bergeron sold 43,300 shares in four separate sale transactions on November 26, 2007. PAY option volume was heavy on November 29, with 6,505 contracts trading. PAY January option implied volatility of 96 is above its 6-month average of 41 according to Track Data, suggesting larger risk.

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

Option update: VeriFone Holdings volatility spikes as shares sell off 46% originally appeared on BloggingStocks on Mon, 03 Dec 2007 14:06:00 EST. Please see our terms for use of feeds.