streetTracks Gold Shares (NYSE: GLD) closed at $90.92. Gold is recently up 0.56% to $929.50 according to Bloomberg. GLD July option implied volatility is at 21, August is at 92; below its 26-week average of 34, according to Track Data, suggesting decreasing price movement.

UltraShort S&P500 ProShares (NYSE: SDS) is recently down 65 cents to $58.05 in pre-open trading. SDS seeks daily investment results that correspond to twice the inverse daily performance of the S&P 500. SDS July option implied volatility is at 55, August is at 58; below its 26-week average of 73, according to Track Data, suggesting decreasing price movement.

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

Network Appliance (NYSE: NTAP) offered to acquire Data Domain (NYSE: DDUP) for $25. DDUP is a provider of duplication storage appliances for disk backup. DDUP June call option implied volatility is at 45, puts are at 56; near its 26-week average of 49, according to Track Data, suggesting non-directional price movement. Puts are more expensive than calls because DDUP is difficult to borrow.

streetTracks Gold Shares (NYSE: GLD) closed at $92.25. Gold is recently is recently up .31% to $940.30 according to Bloomberg. GLD June option implied volatility is at 23; July is at 24; below its 26-week average of 37, according to Track Data, suggesting decreasing price movement.

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

Dendreon (NASDAQ: DNDN) closed at $21.55. DNDN will report detailed Phase 3 IMPACT (Immunotherapy for Prostate AdenoCarcinoma Treatment) this afternoon. DNDN May call option implied volatility is at 211, puts are at 190 according to Track Data, suggesting large price movement.

streetTracks Gold Shares (NYSE: GLD) is recently down 70 cents to $88.31 in pre-open trading. Gold is recently down 1.10% to $898.65 according to Bloomberg. GLD May option implied volatility is at 29; June is at 30; below its 26-week average of 38, according to Track Data, suggesting decreasing price movement.

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