Options Update: Legg Mason (LM) & Wyndham (WYN)

Options Unusual Activity

Options Update: Legg Mason (LM) & Wyndham (WYN)

Posted October 26th, 2009 by The Options Insider in Unusual Activity

Legg Mason (LM)
LM volatility low; Peltz joining board of directors

Legg Mason-LM is recently up 64c to $32.53. LM announced that Nelson Peltz, CEO of Trian Fund Management, will be elected to the company's board of directors. Peltz is a significant investor in LM.

LM November option implied volatility is at 47, December and January is at 43; below its six-month average of 54 according to Track Data.

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Wyndham (WYN)
WYN calls active on 13K contracts into EPS

Wyndham-WYN is recently down 8c to $17.10. WYN is scheduled to report Q3 EPS on October 28. WYN call option volume of 13,031 contracts compares to put volume of 163 contracts.

WYN November option implied volatility is at 69, December is at 59; below its six-month average of 67 according to Track Data, suggesting decreasing price movement after EPS.

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