ICICI Bank (NYSE: IBN), India's second largest bank, closed at $20.99. India is currently holding general elections -- the largest democratic election in the world -- to the 15th Lok Sabha. The results will be announced on May 16, 2009. IBN June option implied volatility of 85 is below its 26-week average of 95, according to Track Data, suggesting decreasing price movement.
Infosys (NASDAQ: INFY), a technology services firm based in India, closed at $30.36. INFY June option implied volatility is at 47, July is at 50; below its 26-week average of 61, according to Track Data, suggesting decreasing price movement.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
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