Panera Bread (NASDAQ: PNRA), an owner and franchisor of 1,115 bakery-cafes, is recently up $2.28 to $45.40.

• PNRA reported that third quarter revenue increased 35% to $276 million compared to the year ago period.
  
• Bear Stearns says: "Sales in line; guidance narrowed up versus consensus."
  
• PNRA overall option implied volatility of 37 is above its 26-week average of 34 according to Track Data, suggesting slightly larger price risks.

JP Morgan (NYSE: JPM), a global financial holding company, closed at $46.78.

• Bloomberg reported: "China may prevent foreign investors from taking control of domestic brokerages, a setback to Wall Street's ambitions to tap the world's fastest-growing stock market, people familiar with the planned rules said."
• JPM is expected to report EPS on 10/17.
  
• JPM October option implied volatility of 30 is above its 26-week average of 26 according to Track Data, suggesting larger risk.

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

Option update: Adjusting positions in Panera Bread (PNRA) and JP Morgan (JPM) originally appeared on BloggingStocks on Wed, 03 Oct 2007 10:10:00 EST. Please see our terms for use of feeds.