Options Update: Wal-Mart (WMT) & CIT Group (CIT)
WMT October Volatility Low At 18, November At 21
Wal-Mart (WMT) closed at $49.23. WMT was initiated with a Market Perform rating at Bernstein. WMT is expected to report Q3 EPS in November.
WMT October option implied volatility is at 18, November and December is at 21. This is below its six-month average of 25, according to Track Data, suggesting decreasing price movement.
CIT Group (CIT)
CIT Options Expensive, Shares Down In Pre-Open
CIT Group (CIT) is recently trading at $1.38 in pre-open trading, below its close of $2.20. CIT is finalizing a plan that is expected to result in the company's bondholders taking control, reports the Wall Street Journal.
CIT October 2 straddle is priced at $.85, November 2 straddle is at $1.20, January 2 straddle is at $1.50 according to Track Data, suggesting large price movement.
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