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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: tonyt who wrote (89055)	1/23/2001 11:36:21 AM
From: tonyt	Read Replies (1) \| Respond to of 97611

U.S. Options-Compaq vols down ahead of Q4 results CHICAGO, Jan 23 (Reuters) - Implied volatility in options of Compaq Computer Corp. (NYSE:CPQ - news), the world's No. 1 personal computer maker, fell amid some call selling ahead of its fourth-quarter results due Tuesday. Shares of Houston-based Compaq were off 12 cents at $19.70 on New York Stock Exchange on volume of about 2.6 million shares in early Tuesday trading. Implied volatility of the February 20 calls stood at around 75 percent, down from Monday's 78 to 79 percent level, said designated primary market maker Frank Brodlo of Heartland TFM at the Chicago Board Options Exchange. ``The vols are actually coming down,'' Brodlo said. ``There are call sellers. We have earnings right after the close.'' On the put side, Brodlo noted small buyers of the March 20 and April 17 series. ``Those are the big trades so far today,'' Brodlo said early Tuesday. The revised earnings consensus for Compaq's fourth-quarter is 28 cents per share, according to a survey of analysts by First Call/Thomson Financial, which compiles brokerage estimates. Compaq earned 19 cents a share in the same year-ago quarter. Options volume was thin ahead of Compaq's results. About 3,827 calls and 2,599 puts traded early Tuesday combined across the five U.S. options exchanges, using Track Data figures. Track Data's combined tally for Monday stood at 16,701 contracts versus 56,444 option contracts traded on Friday.