United States Oil Fund (NYSE: USO) is recently down $1.07 to $25.98 in pre-open trading. WTI Crude futures are recently down 5.16% to $42.45. USO unit net asset value reflects the performance of the spot price of West Texas intermediate light crude. USO March option implied volatility of 72 is above its 26-week average of 68, according to Track Data, suggesting larger price movement.

Financial Bear 3X (NYSE: FAX) 3X is recently up $8.07 to $70 in pre-open trading. FAZ March 70 straddle is priced at $28.90, April 70 straddle is priced at $39. FAZ over all option implied volatility is at 192 according to Track Data, suggesting extreme price movement.

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

Options Update: United States Oil Fund volatility up; oil at $42.45 originally appeared on BloggingStocks on Mon, 02 Mar 2009 09:15:00 EST. Please see our terms for use of feeds.