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