Cosan (NYSE: CZZ), an ethanol and sugar company, closed at $7.99. Sugar prices are near a 28-year high. CZZ call option volume of 2,974 contracts compares to put volume of 274 contracts. CZZ September option implied volatility is at 82, December is at 77; below its 26-week average of 98, according to Track Data, suggesting decreasing price movement.
Imperial Sugar (NASDAQ: IPSU) closed at $14.60. IPSU September option implied volatility is at 65, October is at 64 and January is at 61; below its 26-week average of 70, according to Track Data, suggesting decreasing price movement.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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