Clear Channel (NYSE: CCU) -

The U.S. Department of Justice announced it would require CCU to sell radio stations in four cities in order to win approval for its sale to Thomas H. Lee Partners and Bain Capital. Thomas H. Lee Partners and Bain Capital announced a $39.20 cash bid for CCU in early 2008.

CCU closed at $29.49 Wednesday.

CCU said: "The merger continues on track for a first quarter close." The Federal Communications Commission approved the deal in January.

CCU overall option implied volatility of 88 is above its 26-week average of 36 according to Track Data, suggesting larger price movement.

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

CME Group (NYSE: CME) is recently trading down $101.34 to $487.98. The U.S. Department of Justice called for an end to futures exchanges being permitted to own or control clearing functions. The CME issued a statement welcoming the opportunity to participate in industry discussions concerning market structure and the organization of clearing and settlement services. CME and NYMX (NYSE: NMX) confirmed on January 28 that they are engaged in preliminary discussions regarding CME's potential acquisition of NMX. CME call option volume of 23,643 contracts compares to put volume of 20,172 contracts. CME March option implied volatility of 62 is above a level of 47 from this morning and its 26-week average of 32 according to Track Data, suggesting larger price movement.

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