Implied Volatility Alert: CEPH, NITE
11/23/09
CEPH options active on flat volatility as shares sell off 7% on clinical trial
Cephalon (CEPH) is recently down $5.83 to $53.78.
The company's Phase IIb/III CINQUIL trial did not meet its endpoint.
Piper Jaffray said, "Buy on weakness."
December option implied volatility is at 28, and January is at 34, versus its six-month average of 34.
CEPH call option volume of 29,758 contracts compares to put volume of 9,228 contracts, according to Track Data, suggesting traders taking positions for price movement.
NITE puts active on GS downgrade
Knight Capital Group (NITE) is recently down 37 cents to $15.15.
Goldman Sachs (GS) downgraded the stock to "neutral" from "buy."
NITE December option implied volatility is at 36, and January is at 37, versus its 26-week average of 42.
NITE call option volume of 459 contracts compares to put volume of 5,860 contracts, according to Track Data. NITE average daily volume is 2,100 contracts, according to IVolatility.
Posted at 3:05 p.m.
More Implied Volatility Alerts
Researcher Paul Foster has 23 years of professional experience in the capital markets, investments, trading, corporate finance, arbitrage, options, and mergers and acquisitions.
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