Options Update: Elan Corp (ELN) & Arch Coal (ACT)
Elan Corp (ELN)
ELN May Calls Active As Shares Rally 19%
Elan is recently up $1.12 to $7.01 on renewed takeover chatter.
ELN May option implied volatility is at 103, June is at 90 - verses its 6-month average of 90.
ELN call option volume of 35,579 contracts compares to put volume of 2,016 contracts.
Arch Coal (ACI)
ACI Volatility Low As Shares Rally 9%
Arch Coal is recently up $1.53 to $17.12. Goldman Sachs upgraded the coal sector to Attractive from Neutral.
ACI option volume of 18,369 contracts compares to put volume of 5,327 contracts.
ACI May option implied volatility is at 79, June is at 70. This is below its 6-month average of 88, suggesting decreasing price movement.
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