Options Flow Summary: MAT & General Sentiment
Mattel Inc (MAT)
MAT is trading 10 times its average daily options volume today with over 7,400 contracts trading by mid-day. The company issued a recall for approximately 9 million toys due to hazards from magnets and lead paint.
Not surprisingly, the stock is down $.47 to $23.10, and the majority of the options flow has consisted of buyers.
General Market Sentiment
Volatility is still the name of the game today with credit worries still lingering. In addition, concerns about consumer spending are certainly adding to the overall tension in the market.
The only thing that remains clear in this market is that this ride is far from over. The CBOE's VIX is up again today to 26.83, with the Dow experiencing yet another triple digit decline.
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