Procter & Gamble (NYSE: PG) closed at $70.91.

• On 10/1/07 The Financial Times Merger Market reported PG is looking to sell its Duracell unit, as well as its Pringles and Folgers units according to sources close to the matter.
  
• PG overall option implied volatility of 19 is near its 26-week average of 18 according to Track Data, suggesting non-directional risk.

Hershey (NYSE: HSY) closed at $47.41.

• HSY Chairman and CEO Rick Lenny resigned.
  
• Alex Brown says: "We retain our Hold opinion, but lower our target from $48 to $45. With CEO Lenny leaving at 2007-end, we believe fundamental pressures and less likelihood of sale point to a lower valuation."
  
• HSY overall option implied volatility of 23 is near its 26-week average of 22 according to Track Data, suggesting non-directional risk.

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

Option update: P&G (PG) asset sale and Hershey (HSY) CEO resigns originally appeared on BloggingStocks on Tue, 02 Oct 2007 09:10:00 EST. Please see our terms for use of feeds.