Monday, March 5, 2007

PMI Group (PMI)

PMI has popped on to the radar. The company owns CMG Mortgage which provides mortgage insurance. While put and call volume are about even, implied volatility has popped to near 30, vs a six month average of 20. Another one to keep an eye on.

Another that has been flying under the radar is General Motors. They own half of Rescap. As I posted a few Sunday's ago, GM earnings are going to get walloped by writeoffs at Rescap. GM March 30 call volume over 11K today vs 1,150 March 30 call volume.

2 comments:

Tom Gallanis said...

GM, with that much Call interest. Is anyone being a contraian and betting it will close below 30 come OE?

Unknown said...

gm mar 30 puts very heavy 12k so far, but not much April action