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Countrywide (NYSE: CFC) is down 51 cents $7.16. CFC July 5 puts are bid $1.40. CFC call option volume of 4,456 contracts compares to put volume of 3,978 contracts. CFC call option volume of 17,149 contracts compares to put volume of 36,487 contracts. CFC February option implied volatility of 133 is above its 26-week avearge of 85 according to Track Data, suggesting larger downside price risk.

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

Options update: Countrywide put volume heavy at expensive prices as downside hedge originally appeared on BloggingStocks on Tue, 08 Jan 2008 12:02:00 EST. Please see our terms for use of feeds.

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