Weight Watchers (WTW) overall option implied volatility is at 34, according to Track Data, above its 26-week average of 27 into its release of Q4 results on February 17. WTW rallied 2.5% after Jennifer Hudson appeared on Oprah Winfrey's show to discuss her weight loss using Weight Watchers' system.

Russell 2000 (IWM) overall implied volatility at 23; the 26-week average is 26.

Financial Select Sector (XLF) overall volatility at 22; the 26-week average is 25.

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

First it was Indian call centers, then a snarky Web site, but now there's a new theory to explain the improbable American Idol sauces of Sanjaya Malakar: Howard Stern.

That's right. The King of All Media has called the hapless Malakar his "favorite" contestant and was encouraging listeners of his Sirius Satellite Radio Inc. (NASDAQ:SIRI) show to vote for him. Stern's faux endorsement may have spared Malakar his deserved exit from America's most-watched show. He certainly isn't surviving on talent.

I'm sure that some Idol fans are fretting over the potential for Stern or other outside forces to corrupt the sanctity of the Idol vote. Those people need to get a life.

Don't feel too bad for Malakar. Once he gets voted off the show -- God willing -- he won't be hurting. There are probably agents lining up around the block to represent him. Some record executive will commit a crime against pop music and give him a recording contract making music fans question whether there is a God.