U.S. stocks were mixed on light trading volume going into a long holiday weekend. The Dow was down 0.43%, the NASDAQ 100 was down 0.39% and the S&P 500 was down 0.33%, while 10-year bond rates rose to 4.624%. The CBOE VIX was up .54 to 11.07.
- Valero Energy Corporation's (NYSE: VLO) option implied volatility of 32 suggests decreasing risk. Valero owns and operates 18 refineries in the U.S., Canada and the Caribbean with a combined throughput capacity of approximately 3.3 million barrels a day. Crude oil futures were down .46% to $62.37. Valero's overall option implied volatility of 32 is below its 26-week average of 37, according to Track Data, suggesting decreasing price risks.
- Tesoro Corporation's (NYSE: TSO) option implied volatility of 34 suggests decreasing risk. Tesero, an independent refiner and marketer of petroleum products, is trading at $65.49. Tesero's overall option implied volatility of 34 is below its 26-week average of 37, according to Track Data, suggesting less price risks.
- BP plc's (NYSE: BP) option implied volatility of 19 suggests decreasing risk. BP recently traded at $66.47. BP's option implied volatility of 19 is below its 26-week average of 21, according to Track Data, suggesting non-directional price risks.
- Chevron Corporation's (NYSE: CVX) option implied volatility of 21 suggests non-directional price risks. Chevron recently traded at $73.08. Chevron's overall option implied volatility of 21 is near its 26-week average of 22, according to Track Data, suggesting non-directional price risks.
- Exxon Mobil Corporation's (NYSE: XOM) option implied volatility of 22 suggests non-directional price risks. Exxon recently traded $75.67. A Federal Court of appeals court cut in half a $5 billion jury award for punitive damages against Exxon in the 1989 Valdez oil spill. Crude oil futures were down .46% to $62.37. Exxon's overall option implied volatility of 22 is near its 26-week average, according to Track Data, suggesting non-directional price fluctuations.
Option volume leaders today were Altria Group, Inc (NYSE:
MO), Research in Motion Limited (NASDAQ:
RIMM), General Electric Company (NYSE:
GE), and Apple Computer, Inc (NASDAQ:
AAPL).
Options analysis provided by Paul Foster, options strategist for Theflyonthewall.com.
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MOST NOTEWORTHY: StoneMor Partners, Suntech Power and Tesoro were today's noteworthy initiations:.gif){kind=logo}
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