LDK Solar (NYSE: LDK), a manufacturer of multicrystalline solar wafers, was sold off down $16.65 to $51.65. Piper Jaffray said "We have confirmed that the LDK financial controller recently left the company." LDK October option implied volatility of 133 was above its 12-week average of 69 according to Track Data, suggesting larger risk.

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.

MBIA Inc. (NYSE: MBI) put volume & volatility elevated as credit liquidity tightens. MBI, a provider of financial guarantee insurance, is recently down $2.32 to $57.29. MBI call option volume of 6,883 contracts compares to put volume of 11,323 contracts. MBI August option implied volatility of 65l September is at 48, above its 26-week average of 31, according to Track Data, suggesting hedging for downside risk.

AMBAC Financial Group Inc. (NYSE: ABK) put volume & volatility elevated as credit liquidity tightens. ABK provides financial guarantee products and other financial services to both public and private sector clients. ABK is recently down $5.49 to $67.64. ABK call option volume of 2,337 contracts compares to put volume of 4,829 contracts. ABK August option implied volatility is at 53; September is at 49, above its 26-week average of 25 according to Track Data, suggesting hedging for downside risk.

Rait Financial Trust (NYSE: RAS) put volume heavy; volatility spikes to 210 as RAS down 25%. RAS originates secured and unsecured debt instruments for private & corporate owners of real estate. RAS is recently down $3.94 to $12.10. MDLD says "downgrading to Hold; waiting out AHM issues." RAS call option volume of 4,638 contracts compares to put volume of 7,917 contracts. RAS August option implied volatility of 210 is above its 19-week average of 43 according to Track Data, suggesting hedging downside move.

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

Accredited Home Lenders (NYSE:LEND) volatility Spikes as LEND collapses 15%. LEND, a mortgage company originating, financing, securitizing, servicing and selling non-prime mortgages, is recently down $1.95 to $10.97. LEND August option implied volatility of 155 is above its 26-week average of 78 according to Track Data, suggesting larger price risks.

Rohm and Haas (NYSE:ROH) volatility stays elevated after reporting 2Q earnings of $161M. ROH operates five business segments: powder coatings, salt, electronic materials, performance materials and specialty materials that generated sales of $2.19 billion in the second quarter. ROH is recently up $.40 to $60.74. Goldman Sachs CO says "ROH continues to prove the benefit of its portfolio and geographic diversification as strength in Asia and Europe offset the weakness in the US. ROH August option implied volatility of 30 is above its 26-week average of 22 according to Track Data, suggesting larger price risks.

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

Computer Sciences(NYSE:CSC) call volume and volatility spikes on renewed speculation. CSC is recently up .97 to $61.27 on unconfirmed deal chatter Blackstone(NYSE:BX) or Hewlett Packard (NYSE:HPQ) will make a bid. CSC is frequently chatted as being sold to IBM (NYSE:IBM), Lockheed Martin(NYSE:LMT), United Technologies (NYSE:UTX) or private equity after Apollo Managements' bid for the CSC failed in the spring of 2006. CSC July 62.5 calls have traded 126 times on transaction volume of 3,459 contracts above its open interest of 2,356 contracts. CSC August option implied volatility of 36 is above its 26-week average of 25 according to Track Data, suggesting larger price fluctuations.

Option volume leaders today are: Novastar Financial (NASDAQ:NFI) and Apple Computer (NASDAQ:AAPL).

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