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Friday Options Recap

May 22, 2009 - 4:04 PM EDT

Frederic Ruffy submits:

Sentiment

Stocks struggled at the open, but found a floor in morning trading and bounced a bit higher by midday. The Dow Jones Industrial Average made a run towards 8,250 early and is up 50 points to 8,342 heading into the final 90 minutes of trading.

The CBOE Volatility Index (.VIX) is up .04 to 31.39 and off session lows of 30.57 ahead of data on home prices and consumer confidence due out Tuesday morning. The volatility index is up 18.1 percent since hitting a low of 26.57 Wednesday morning, a sign that risk perceptions are moving higher and the options market is beginning to "price in" the possibility of increased volatility in the weeks ahead. (VIX tracks the expected volatility priced in current S&P 500 Index options.)

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Source: Seeking Alpha (May 22, 2009 - 4:04 PM EDT)