BJ's Wholesale (BJ) implied volatility rose on 11/22/06 after CEO resigns

BJ's Wholesale (NYSE: BJ): BJ, the operator of 165 BJ's clubs, rallied to $32.99 on 11/22/06 after the CEO resigned, igniting take over/LBO chatter. BJ December option implied volatility of 36 is above its 6-month average of 31 according to Track Data, indicating larger price fluctuations. Paul Foster