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Joy Global JOYG (news,
chart,
quote) - JOYG option implied volatility suggests Less Risk after 11% sell-off
JOYG, a manufacturer and service provider of surface and underground mining equipment, is down $5.88 to $44.46 after reporting 1Q EPS of .51 cents, below consensus estimates of .60 cents. BARD say's "results reflect the impact of weaker US coal market demand." BARD maintains its Outperform rating on JOYG. GSCO maintains its Sell rating on JOYG. JOYG call option volume of 24,274 contracts compares to put volume of 16,881 contracts. JOYG March option implied volatility of 41 is below yesterday's over all level of 46 and its 26-week average of 48 according to Track Data, suggesting reduced price fluctuations.
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