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Cree CREE (news,
chart,
quote) - CREE volatility & share price increase on unconfirmed takeover chatter
CREE, a manufacture of semiconductors for solid state lighting, is recently up $2.65 to $26.95 on unconfirmed GE takeover chatter. CREE call option volume of 14,237 contracts compares to put volume of 2,129 contracts. CREE September call option implied volatility is at 58; up from 41 this morning, puts are at 68; up from 51 this morning. CREE's 26-week average option implied volatility is 39 according to Track Data, suggesting larger price fluctuations. CREE put implied volatility is higher than calls because CREE is difficult to borrow.
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