Yesterday, Dendreon (DNDN) presented results of their drug trials at a conference. The May options had an implied volatility of 200%. At 1:00 PM it was trading at 24.25, at 1:30 it hit $7.50. At 2:00 PM it was back to $22.50. Today it is trading at $23. What a manic mover!
The implied volatility of the options yesterday was 200%, now it is down to 100%.
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