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Paul Foster
Chicago U.S.A. - http://

Paul Foster, a knowledgeable researcher has 21-years of professional experience in the capital markets, investments, trading, corporate finance, arbitrage, options and mergers and acquisitions.

Cardiome Pharma (NASDAQ: CRME) closed at $8.66 Monday.

Phase 2b data is expected soon for a oral formulation of Kynapid (vernakalant), a drug to restore normal heart rhythm in patients with arterial fibrillation.

CRME July option implied volatility of 195 is above its 26-week average of 131 according to Track Data, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

EchoStar (NASDAQ: DISH) closed at $26.70 Monday, near five-year low. DISH August option implied volatility of 57 is above its 26-week average of 45 according to Track Data, suggesting larger price movement.

Financial Select Sector-XLF overall volatility at 43; 26-week average is 34

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Office Depot (NYSE: ODP) is recently trading at $8.86 in pre-open trading, below its close of $10.41.

ODP announced Q2 same-store sales fell nearly 10% versus the prior year. ODP will announce Q2 EPS on July 30. ODP expects its profit margins to improve sequentially in the third and fourth quarter.

ODP July option implied volatility is at 74, August is at 69; above its 26-week average of 54 according to Track Data, suggesting larger price movement

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Fannie Mae (NYSE: FNM) is recently trading at $16.59 in pre-open trading, above its close of $15.74.

OFHEO's Director James Lockhart says FNM and Freddie Mac (NYSE: FRE) are both adequately capitalized. FNM is expected to report Q2 EPS in mid-August.

FNM July option implied volatility is at 162, August is at 145; above its 26-week average of 76 according to Track Data, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Yahoo (NASDAQ: YHOO) is recently up $2.68 to $24.02.

Microsoft (NASDAQ: MSFT) confirmed the interest in restarting talks to acquire some or all of YHOO, but only if the company's board is replaced at next month's annual meeting.

YHOO call option volume of 180,120 contracts compares to put volume of 71,616 contracts. YHOO July option implied volatility of 68 is above its 26-week average of 43 according to Track Data, indicating larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Freddie Mac (NYSE: FRE) down $1.37 to $13.10.

FRE is expected report Q2 EPS in late August.

FRE call option volume of 13,022 contracts compares to put volume of 33,075 contracts. FRE July option implied volatility is at 155, August is at 170; above its 26-month average of 75 according to Track Data, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Teva Pharmaceutical (NASDAQ: TEVA) is recently down $3.05 to $44.15 in pre-open trading after announcing that late-stage, top-line results showed the 40mg dose of its multiple sclerosis drug Copaxone was not more effective in reducing the relapse rate than the 20mg dose already approved.

TEVA overall option implied volatility of 25 is near its 26-week average according to Track Data, suggesting non-directional movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Genentech (NYSE: DNA), the manufacture of Avastin, a treatment for patients with advanced lung, colon, or breast cancer, is scheduled to report Q2 EPS on July 14. DNA August option implied volatility of 29 is near its 26-week average according to Track Data, suggesting non-directional price movement.

Financial Select Sector-XLF overall volatility at 42; 26-week average is 34

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Google (NYSE: GOOG) closed at $534.74 Tuesday.

GOOG is scheduled to report Q2 EPS on July 17.

Jefferies says: "Reiterating Buy and $600 target on healthy domestic search growth.

GOOG July option implied volatility of 46 is above its 26-week average of 37 according to Track Data, suggesting large price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

General Electric (NYSE: GE) closed at $27.12, near five-year low.

GE is expected to report Q2 EPS on July 11.

GE July option implied volatility is at 38, August is at 32; above its 26-week average of 29 according to Track Data, suggesting larger price movement.

Financial Select Sector-XLF overall volatility at 41; 26-week average is 34

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Starbucks (NASDAQ: SBUX) indicated plans to close 600 unprofitable domestic stores and incur pre-tax charges of $328-$348 million, including asset write-downs of $200 million.

Deutsche Bank says: "With US consumers still reeling and McDonalds (NYSE: MCD) on the cusp of a nationwide specialty coffee rollout, it is too early to call a bottom on fundamentals – maintain Hold."

SBUX July option implied volatility of 42 is near its 26-week average of 39 according to Track Data, suggesting non-directional price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

UnitedHealth (NYSE: UNH) lowered FY 2008 EPS view to $2.95-$3.05 from $3.55-$3.60.

UNH says: "During the second quarter, our risk-based business produced a lower level gross margin than expected."

UNH July option implied volatility of 40 is above its 26-week average of 34 according to Track Data, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Procter & Gamble (NYSE: PG) is recently up 26 cents to $61.09. PG is expected to report Q4 EPS in early August.

PG announced on June 30 that Derek Jeter, of the New York Yankees, will join Tiger Woods, Roger Federer and Thierry Henry as Gillette Champion ambassadors.

PG call option volume of 5,770 contracts compares to put volume of 38,520 contracts. PG August option implied volatility of 23 is above its 26-week average of 20 according to Track Data, suggesting price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

CIT Group (NYSE:CIT) is recently trading at $7.60 in pre-open trading, above its close of $6.81. CIT agreed to sell its home lending business to hedge fund Lone Star for $1.5 billion and its manufactured housing portfolio to Vanderbilt Mortgage and Finance Inc. for $300 million. BMO Capital say's "Although this removes one of the risks to the CIT story, we continue to view its funding risk as being paramount, particularly given CIT's $7 billion in net unfunded commitments that it must find a way to fund if drawn upon." CIT July option implied volatility of 124 is above its 26-week average of 91 according to Track Data, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Boeing (NYSE:BA) closed at $65.72. BA is expected to report Q2 EPS in late July. BA's 787 Dreamliner first delivery is expected the third quarter of 2009. BA August option implied volatility of 38 is above its 26-week average of 30 according to Track Data, suggesting larger price fluctuations.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com