Filed under: CBS Corp ‘B’ (CBS), ConAgra Foods (CAG)

Trump Entertainment Resorts, Inc. (NYSE: TRMP) calls active at higher volatility on renewed chatter:

TRMP was recently up 39 cents to $7.06 on renewed and unconfirmed takeover chatter. TRMP announced on July 2nd that its board of directors ended talks with potential acquirers. TRMP call option volume of 1,439 contracts compared to put volume of 219 contracts. TRMP September option implied volatility off 97 was above its 26-week average of 56 according to Track Data, suggesting larger price fluctuations.

ConAgra (NYSE: CAG) October implied volatility elevated at 31 into earnings per share (EPS) announcement:

CAG confirmed previously issued EPS and sales for 2008 on Septebmer 6th. CAG is expected to report EPS in late September. CAG announced on September 5th that it would remove the flavoring chemical diacetyl in the manufacturing of its microwave popcorn. CAG call option volume of 6,815 contracts compared to put volume of 8,182 contracts. CAG October option implied volatility of 31 was above its 26-week average of 20, according to Track Data, suggesting larger risk.

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

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