State Street Corp (STT) $51.66 -4.08%
State Street (STT) is down $2.20 to $51.66 and trading in STT options is brisk, with 29K puts and 9,200 calls traded. Implied volatility (average) is ralllying up to 46, from about 41 late Friday, after the Wall Street Journal reported the bank’s $625 million in reserves for exposure to the sub-prime crisis “may not be sufficient.” Aug 50 puts and calls are among the most actives, along with Aug 48 and 46 puts, Aug 55 calls.
Category: All Stocks, Financial Services, Large Cap Stocks
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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.
nice thanks…….Fred
btw……….anytime I cycle back to whatstrading.com from my other tabs…….my browser freezes up……..
Must be because they freeze my brain with their insight.
BTW. Fred, call me crazy, I’m long BEN calls myself (front month).
sad btw to see the unwarranted sell-off today on STT. I owned calls from MAR lows (must be a weird options thing since I capatilized the month), but still thinking STT one of the BEST financial co’s bar-none myself…..but that being said, no position now (just BEN as noted prior). Guess I’m satisfied with a 33% cut on calls then a 50% cut……….ahhhhhhhhhh
so goes options trading