Implied Volatility Alert: DNDN, CBY
09/22/09
DNDN volatility elevated into analyst day
Dendreon (DNDN) is recently up 30 cents to $29.77.
On April 29, the company announced its Provenge drug prolonged the lives of advanced prostate cancer patients by 4.1 months, raising expectations for approval by the FDA.
DNDN will host an analyst day in New York on Sept. 24.
Leerink Swann initiated coverage of DNDN with an "outperform" rating and a $40 price target.
DNDN October option implied is at 96, and November is at 93, above its 20-week average of 74, according to Track Data, suggesting larger price movement.
CBY volatility low after rejecting KFT's offer
Cadbury PLC (CBY) rejected Kraft Foods' (KFT) $16.7 billion buyout offer on Sept. 7.
CBY overall option implied volatility of 27 is below its 26-week average of 33, according to Track Data, suggesting decreasing price movement.
Posted at 12:25 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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