Amdocs Ltd. (NYSE: DOX) -- calls Active on higher implied volatility as DOX rallies on Chatter. DOX is a software & services holding company and has a market cap of $7.4 billion with long term debt of $450 million. DOX is recently up $1.23 to $36.78 on unconfirmed & renewed LBO chatter. FMD call option volume of 2,049 contracts compares to put volume of 177 contracts. DOX June option implied volatility of 31 is above its 26-week average of 27 according to Track Data, suggesting larger price risks.

First Marblehead (NYSE: FMD) -- calls active as traders hedge Wells Fargo (NYSE: WFC) chatter. FMD, a provider of outsourcing services for private and non-governmental education lending, is recently up $1.42 to $36.73. Unconfirmed speculation is circulating WFC is interested in purchasing FMD. FMD June option implied volatility of 46 is above its 26-week week average of 43 according to Track Data, suggesting slightly larger price risks.

Joy Global (NYSE: JOYG) -- call volume and volatility higher on renewed takeover chatter. JOYG is a manufacturer and service provider of surface and underground mining equipment. JOYG is recently up .99 to $53.22 on unconfirmed takeover chatter. Caterpillar Inc. (NYSE: CAT) is frequently mentioned as potential acquirer. JOYG call option volume of 2,213 contracts compares to put volume of 276 contracts. JOYG June option implied volatility of 50 is above its 26-week average of 42 according to Track Data, suggesting larger price fluctuations.

Option volume leaders today are: Yahoo Inc. (NASDAQ: YHOO), Elan Corp. (ADS) (NYSE: ELN), Apple Inc. (NASDAQ: AAPL) and Altria Group (NYSE: MO).

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

Ipsco Inc. (NYSE: IPS ) -- volatility up; indicates more Risk; release of discussions of acquisition. IPS, a low cost producer of energy tubular sans steel plate, is recently up $15 to $156.19. IPS says "it is currently in discussions that could lead to a potential acquisition of the company." IPS has a market cap of $6.9 billion with long-term debt of $879 million. IPS reported 2006 total revenue of $3.7 billion. IPS call option volume of 4,751 contracts compares to put volume of 1,506 contracts. IPS April option implied volatility is at 47, May is at 43 above its 26-week average of 38 according to Track Data, suggesting larger price risks.

Raser Technologies (AMEX: RZ) -- option implied volatility Elevated on agreements win; RZ rallies 19%. RZ has pending patents and proprietary intellectual property covering breakthrough technologies. RZ is up $2.00 to $9.20. RZ entered into a series of agreements with UTC Power to provide up to 135 PureCylce geothermal power systems for three Raser power plants. RZ call option volume of 4,366 contracts compares to put volume of 2,255 contracts. RZ May option implied volatility of 128 is above its 26-week average of 108 according to Track Data, suggesting larger price risks.

Option volume leaders today are: Dendreon Corp. (NASDAQ: DNDN), Citigroup Inc. (NYSE: C), Washington Mutual (NYSE: WM) and Research in Motion (NASDAQ: RIMM).

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