Valero Energy (VLO) $18.56 -17.07%
Valero (VLO) options are active and implied volatility is higher after the co lowered earnings guidance and announced plans for a 40 mln share offering. The oil refiner said it expects to lose 50 cents for the second quarter. What??? Analysts were looking for a 76-cent profit! Shares are down $3.83 to $18.55 and not far from session lows. 36K calls and 31K puts traded. Implied volatility jumped to 57, from about 48 the day before.
Category: All Stocks, Large Cap Stocks, Oil & Gas Producers
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About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.
