Oil Services Holders Trust (OIH) closed at $122.72. Crude oil futures are recently down 1% to $74.51, according to Bloomberg. OIH holdings include BHI, BJS, DO, ESV, GRP, GSF, HAL, SLB, HC, NBR, NE, NOV, RDC, RIG, SII, SLB, TDW and WFT. OIH February and April put option implied volatility of 35 is near its 26-week average, according to Track Data, suggesting non-directional price movement.

Consumer Discretionary Sector SPDR (XLY) closed at $29.17. XLY February and March call option implied volatility is at 22, puts are at 23; near its 26-week average of 25, according to Track Data, suggesting slightly decreasing price movement.

Financial Select Sector (XLF) closed at $14.26. XLF February put option implied volatility is at 35, June is at 34, versus its 26-week average of 30, according to Track Data, suggesting larger price movement.

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

SPDR Homebuilders (NYSE: XHB) is recently down 45 cents to $14.42 in pre-open trading. XHB September option implied volatility is at 39, December is at 40; below its 26-week average of 55, according to Track Data, suggesting decreasing price movement.

Financial Select Sector (NYSE: XLF) is recently down 48 cents to $13.76 in pre-open trading. August option implied volatility is at 34; September is at 36; below its 26-week average of 55, according to Track Data, suggesting decreasing price movement.

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

NASDAQ 100 (NASDAQ - QQQQ)verall implied volatility at 26; 26-week average is 32

Semiconductor Holders Trust - SMH overall volatility at 30; 26-week average is 38

Russell 2000 - IWM overall implied volatility at 27; 26-week average is 39

Financial Select Sector - XLF overall volatility at 37; 26-week average is 58

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

JP Morgan (NYSE: JPM) closed at $32.34. JPM is expected to report Q2 EPS on July 16. JPM July 32.5 straddle is priced at $2.37, August is at $4.64. August option implied volatility is at 54; September is at 53; below its 26-week average of 74, according to Track Data, suggesting decreasing price movement.

Financial Select Sector (NYSE: XLF) overall volatility at 48; 26-week average is 62.

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

MSCI Brazil Index (NYSE: EWZ) closed at $55.63. Brazil Bovespa Stock Index is up 54%. EWZ June option implied volatility is at 58 July is at 53; below its 26-week average of 61, according to Track Data, suggesting decreasing price movement this summer.

Financial Select Sector (NYSE: XLF) overall volatility at 49; 26-week average is 65.

ISE Sentiment Index-ISEE closed at 144 on 6/8/09. ISEE 10-day moving average is 135.

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

NASDAQ 100 (NASDAQ: QQQQ) overall implied volatility at 28; 26-week average is 35

Semiconductor Holders Trust (NYSE: SMH) overall volatility at 36; 26-week average is 43

Russell 2000 (NYSE: IWM) overall implied volatility at 34; 26-week average is 44

Financial Select Sector (NYSE: XLF) overall volatility at 49; 26-week average is 65

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

DeVry (NYSE-DV) is recently up $1.73 to $46.10. Standard & Poors announced that DV will replace General Motors in the S&P 500 Index after the market close on June 8. DV June and July option implied volatility of 45 is below its 26-week average of 56, according to Track Data, suggesting decreasing price movement.

Financial Select Sector (NYSE-XLF) is recenlty down 12c to $12.23. XLF top holdings in the fund are JPM, WFC, BAC, GS, USB, C, MET, TRV and AXP. XLF over all option implied volatility of 50 is below its 26-week average of 66, according to Track Data, suggesting decreasing price movement.

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

Bank of America (NYSE: BAC) closed at $8.68. BAC said shareholders voted to remove Kenneth Lewis of his duties as chairman, he will continue as chief executive. BAC May option implied volatility is at 137; June is at 130; above its 26-week average of 122; according to Track Data, suggesting large price movement.

Financial Select Sector (NYSE: XLF) closed at $10.88. XLF top holdings in the fund are JPM, WFC, BAC, GS, USB, C, MET, TRV and AXP. XLF over all option implied volatility of 64 is below its 26-week average of 69, according to Track Data, suggesting decreasing price movement.

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

Financial Select Sector (NYSE: XLF) closed $9.48. XLF top holding in the fund are JPM, WFC, BAC, GS, USB, C, MET, TRV and AXP. XLF April call implied volatility is at 95, puts are at 75; above its 26-week average of 66, according to Track Data, suggesting larger price movement.

PHLX Bank Index (NYSE: BKX) a capitalization-weighted index composed of 24 geographically diverse banks, closed at $30.88. BKX April option implied volatility is at 100; May is at 93 according to Track Data, suggesting large price movement.

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

Bank of America (NYSE: BAC) is recently trading at $9.30 in pre-open trading, above its close of $8.32. The U.S. government disclosed it has agreed to provide BAC with an additional $20 billion in capital and backstop losses on up to $118 billion in assets. The term sheet limits BAC's dividend to 1 cent per share, per quarter for three years. BAC February option implied volatility of 198 is above its 26-week average of 88, according to Track Data, suggesting large price movement.

Financial Select Sector (NYSE: XLF) closed at $9.98. XLF February option implied volatility of 90 is above its 26-week average of 58, according to Track Data, suggesting larger price fluctuations.

PHLX Bank Index -- BKX, a capitalization-weighted index composed of 24 geographically diverse banks, closed at $32.92. BKX February option implied volatility of 97 is above a level of 87 on January 14 according to Track Data, suggesting large price movement.

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

Financial Select Sector (NYSE: XLF) closed at $13.69. XLF October option implied volatility is at 175, November is at 123; above its 26-week average of 41 according to Track Data, suggesting larger price fluctuations.

SPDR Gold Trust (NYSE: GLD) closed at $89.90. Gold is recently up 3.99% to $921.90 according to Bloomberg. GLD October option implied volatility is at 62, November is at 53; above its 20-week average of 30 according to Track Data, suggesting price movement.

Oil Services Holders (NYSE: OIH) closed at $97.60. Crude oil futures are recently down 4.98% to $82.28 according to Track Data. OIH holdings include BHI, BJS, DO, ESV, GRP, GSF, HAL, SLB, HC, NBR, NE, NOV, RDC, RIG, SII, SLB, TDW & WFT. OIH October option implied volatility is at 120, November is at 102 above its 26-week average of 39 according to Track Data, suggesting larger price movement.

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

JP Morgan Chase (NYSE: JPM) became the biggest U.S. bank by deposits, acquiring Washington Mutual (NYSE: WM) branch network for $1.9 billion after the thrift was seized in the largest U.S. bank failure in history. JPM October option implied volatility of 65 is above its 26-week average of 48 according to Track Data, suggesting larger price movement.

Globex S&P futures trading 21.70 below previous day's SPX cash close after U.S. Republican lawmakers stalled urgent efforts to agree on a national economic rescue plan.

Volatility Index S&P 500 Options-VIX at 32.81; 10-day moving average is 32.66.

Financial Select Sector-XLF overall volatility at 48; 26-week average is 40.

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

Financial Select Sector (NYSE: XLF) is recently trading at $19.50 in pre-open trading, below its close of $21.15 Friday. XLF September straddle is at $1.90, October is at $3.59. XLF September option implied volatility is at 100; October is at 66 above its 26-week average of 38 according to Track Data, suggesting larger price fluctuations.

Oil Services Holders (NYSE: OIH) is recently trading at $157.80 in pre-open trading, below its close of $164.21 Friday. Crude oil futures are recently down 5.51% to $95.60 according to Track Data. OIH holdings include BHI, BJS, DO, ESV, GRP, GSF, HAL, SLB, HC, NBR, NE, NOV, RDC, RIG, SII, SLB, TDW & WFT. OIH September option implied volatility is at 55, October is at 45 above its 26-week average of 37 according to Track Data, suggesting larger price movement.

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

Bank of America (NYSE: BAC) closed at $26.50 Thursday.

BAC is scheduled to report Q2 EPS on July 21. Keefe Bruyette and Woods says: "BAC brings risky CountryWide assets on Balance sheet, lowering estimates."

BAC August call option implied volatility went out at 64, puts at 97, above its 26-week average of 45 according to Track Data, suggesting larger price movement.

Financial Select Sector-XLF overall volatility at 46; 26-week average is 37.

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

Genentech (NYSE: DNA), the manufacture of Avastin, a treatment for patients with advanced lung, colon, or breast cancer, is scheduled to report Q2 EPS on July 14. DNA August option implied volatility of 29 is near its 26-week average according to Track Data, suggesting non-directional price movement.

Financial Select Sector-XLF overall volatility at 42; 26-week average is 34

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