Options Update: 3M Company (MMM) & McGraw-Hill (MHP)
3M Company (MMM)
MMM Volatility Elevated Into Financial Outline
MMM is recently trading at $58.95 in pre-open trading, below its close of $59.85. MMM sees for year 2009 EPS $4.50-$4.95 verses consensus of $5.31.
MMM to reduced its headcount by 1,800 jobs. MMM sees full year 2009 organic volumes to decline in the range of down 3% to down 7%.
MMM is hosting a company 2009 Outlook Meeting today.
MMM December option implied volatility of 62 is above its 6-month average of 39, suggesting larger price movement.
MHP Put Volatility At 95 On Advertising & Rating Agency Uncertainty
MHP, an information services provider including credit rating agency Standard & Poorís, closed at $24.23.
MHP January call option implied volatility is at 86, puts are at 95. This is above its 6-month average of 77, suggesting larger price movement.
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