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Countrywide Financial (NYSE: CFC) volatility aggressive; draws on $11.5 billion credit facility.
CFC, the largest U.S. home mortgage lender, is down to $18.99 in pre-open trading, below its close of $21.29. CFC announced "it has supplemented its funding liquidity position by drawing on an $11.5 billion credit facility." CFC September option implied volatility of 164 is above its 26-week average of 56 according to Track Data, indicating larger price fluctuations.

BHP Billiton (NYSE: BHP) implied volatility elevated at 41.
BHP, the world's biggest mining company, said there was no impact at its Atamina copper mine from Peru's largest earthquake in more than 30 years. BHP overall option implied volatility of 41 is above its 26-week average of 34 according to Track Data, suggesting larger price fluctuations.

Novartis (NYSE: NVS) implied volatility elevated at 28.
NVS, engaged in research, development, manufacture and marketing of medicines, closed at $52.17. Dow Jones reported "a tie up of NVS and Bayer (NYSE: BAY) seems unlikely, says WestLB." NVS overall option implied volatility of 28 is above its 26-week average of 23 according to Track Data, suggesting larger price risk.

Volatility Index S&P 500 Options-VIX at 30.67; 10-day moving average is 25.20.

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

More Countrywide Financial news

Peter Cohan: What the mortgage meltdown means to you
Eric Buscemi: George Bailey, meet Angelo Mozilo
Kevin Shult: Analyst downgrades: AN, CFC, DRI and RARE
Peter Cohan: Countrywide (CFC) meltdown continues
Michael Fowlkes: Countrywide Financial (CFC) adds to subprime panic
Peter Cohan: Could Countrywide Financial (CFC) be put down?
Sheldon Liber: Buy on fear today? Bear Stearns (BSC), Countrywide (CFC), IndyMac (IMB), Popular (BPOP), Washington Mutual (WM)

Option update: Countrywide Financial (CFC) volatility aggressive (BHP, NVS) originally appeared on BloggingStocks on Thu, 16 Aug 2007 10:16:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bayBayerbhpbhp billitonBhpBillitoncfccountrywide financialCountrywideFinancialnovartisnvsPeru's largest earthquakePeru'sLargestEarthquakevolatility AggressiveVolatilityAggressiveThu, 16 Aug 2007 10:16:00 EST