Implied volatility in RIM options is elevated today after the UK Independent published an article suggesting Vodafone “could be eyeing the Blackberry manufacturer”. RIMM is rallying for a $2.88 gain to $23.88. Options volume on the stock through midday is 126K calls/66K puts. Nov 20 calls seeing the most volume, with 11,840 traded. Meanwhile, implied volatility in the options on the stock is up 16 pecent to 94 and within striking distance of the 52-week high of 97 set on 9/14.
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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.