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Wachovia WB (news,
chart,
quote) - WB volatility Elevated at 105; shares down 7%
WB is recently down $1.32 to $14.90. According to Dealreporter's senior level sources WB is working to avoid a sale of the bank. Wachovia may turn to a combination of financial asset sales and capital raises to deleverage its balance sheet and boost capital levels. WB call option volume of 13,842 contracts compares to put volume of 11,308 contracts. WB July option implied volatility of 105 is above its 26-week average of 54 according to Track Data, suggesting larger price movement.
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