US Steel(NYSE:X) is recently down $6.93 to $105.56. X reported Q3 EPS of $2.50 verses consensus estimates of $2.63. Goldman SCO say's "4Q guidance weak." X call option volume of 4,419 contracts compares to put volume of 3,214 contracts. X November option implied volatility of 45 is above its 26-week average of 40 according to Track Data, suggesting larger risk.

WellCare Health(NYSE:WCG) volatility at 179 as WCG near three-year low on investigation. WCG is recently down $2.32 to $26.31. On 10/24 The U.S. Department of Justice (DOJ) announced on 10/24/07 that law enforcement personnel with the FBI, the U.S. Office of Inspector General and Florida Attorney Generals Medicaid fraud control unit participated in the execution of a federal search warrant of WCG's Florida headquarters. WCG will report EPS on 11/5. WCG November option implied volatility of 179 is above its 26-week average of 46 according to Track Data, suggesting larger risk.

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

WellCare Health Plans Inc. (NYSE: WCG), a provider of managed care services to government-sponsored healthcare programs, closed at $115.17. The U.S. Department of Justice announced that law enforcement personnel with the FBI, the U.S. Office of Inspector General and Florida Attorney Generals Medicaid fraud control unit participated in the execution of a federal search warrant of WCG's Florida headquarters. WCG option volume was heavy over the last five trading days. WCG overall option implied volatility of 44 is above its 26-week average of 35 according to Track Data, suggesting larger price risks.

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