Research in Motion (NASDAQ: RIMM) closed at a record high of $124.52.

• RIMM and Alcatel-Lucent (NYSE: ALU) announced an agreement to distribute BlackBerry handsets in China.
  
• Smith Barney says: "We continue to believe RIMM's stock price appreciation is fundamental. We reiterate our Buy rating on RIMM."
  
• RIMM November option implied volatility of 59 is above its 26-week average of 48 according to Track Data, suggesting larger risk.

Countrywide Financial (NYSE: CFC), a U.S. home mortgage lender, closed at $15.05.

• CFC is expected to report EPS on 10/26.
  
• CFC November option implied volatility of 103 is above its 26-week average of 61 according to Track Data, suggesting larger risk.

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

Countrywide Financial Corp (NYSE: CFC) September volatility at 116 prior to BAC preferred stock purchase.

CFC, a U.S. home mortgage lender, is recently trading at $25.85 in pre-open trading, above its close of $21.82 yesterday. Bank of America (NYSE: BAC) purchased $2 billion of preferred stock from CFC. Goldman Sachs says this is "a vote of confidence from BAC, but earnings prospects unchanged." CFC September option implied volatility of 116 is above its 26-week average of 59 according to Track Data, indicating larger price fluctuations.

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

More Countrywide Financial news

Peter Cohan: Is Bank of America's (BAC) purchase of Countrwide Financial (CFC) a good bet?
Georges Yared: Bank of America (BAC) makes strategic investment in Countrywide Financial (CFC)
Douglas McIntyre: Will Berkshire Hathaway (BRK) buy parts of Countrywide Financial (CFC)?
Douglas McIntyre: New lay-offs signal Countrywide (CFC) is not out of the woods
Peter Cohan: What the mortgage meltdown means to you
Eric Buscemi: George Bailey, meet Angelo Mozilo
Peter Cohan: Countrywide (CFC) meltdown continues
Michael Fowlkes: Countrywide Financial (CFC) adds to subprime panic
Peter Cohan: Could Countrywide Financial (CFC) be put down?

Countrywide Financial (NYSE: CFC) options suggest $4 move in next two-days. CFC, the largest U.S. home mortgage lender, is recently down $4.35 to $20.25. August options expire on 8/17. CFC call option volume of 132,841 contracts compares to put volume of 355,188 contracts. CFC August 20 straddle is priced at $4.05. CFC September option implied volatility of 163 is above its 26-week average of 55 according to Track Data, indicating larger price fluctuations.

Goldman Sachs (NYSE: GS) August 165 straddle priced at $7.30 with two-days till expiration. GS is recently down $2.64 to $167.03. GS August 165 straddle is priced at $7.30. August options expire on 8/17. GS September option implied volatility of 57 is above its 26-week average of 31 according to Track Data, suggesting larger price fluctuations.

Bear Stearns (NYSE: BSC) August 105 straddle priced at $5.50 with two-days till expiration. BSC is recently down $2.09 to $104. BSC August 105 straddle is priced at $5.50. August options expire on 8/17. BSC September option implied volatility of 75 is above its 26-week average of 38 according to Track Data, suggesting larger price movement.

Lehman (NYSE: LEH) August 50 straddle priced at $4.40 with two-days till expiration. LEH is recently down $1.85 to $51.83. LEH August 55 straddle is priced at $4.40. August options expire on 8/17. LEH September option implied volatility of 73 is above its 26-week average of 34 according to Track Data, suggesting larger risk.

Volatility Index S&P 500 Options-VIX up 3.20 to 30.88

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

Countrywide Financial (NYSE: CFC) put volume & volatility Spikes on investor hedging. CFC, the largest U.S. home mortgage lender, is recently down $1.19 to $26.03 on continued mortgage credit concerns. CFC Chairman, Angelo Mozilo, has been a consistent seller of CFC shares over the last month. CFC call option volume of 18,253 contracts compares to put volume of 60,213 contracts. CFC August straddle is priced at $7.20. CFC September option implied volatility of 113 is above a level of 75 from yesterday and its 26-month average of 41 according to Track Data, suggesting hedging for downside price risk.

Clorox (NYSE: CLX) volatility stays elevated after CLX sells off on EPS. CLX is recently down $4.52 to $57.11. Goldman Sachs says "earnings quality was very poor as operating results missed by .04 even with a lower than expected advertising to sales ratio." CLX September option implied volatility of 24 is above its 26-week average of 19 according to Track Data, suggesting larger risk.

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