General Motors Corporation (NYSE GM) was recently up 1 cent to $1.44. The WSJ was reporting that the government would provide 'massive additional financial assistance' to GM. GM June 1 calls have traded 119,000 contracts above its open interest of 103,787 contracts. GM at the money June 1 straddle was priced at 89 cents, September 1 straddle was at $1.11 according to Track Data, suggesting large price movement.
Volatility Index S&P 500 Options: VIX was down 1.87 to 30.76.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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