Claire's Stores (CLE) option implied volatility of 25 at low end of Range

Claire's Stores (NYSE: CLE) : CLE operates 2,878 stores for pre-teens & young adults. CLE closed at $33.27. Women's Wear Daily reported on 12/11/07 CLE entered a second round of bidding for its assets. CLE over all option implied volatility of 25 is below its 6-month average of 30 according to Track Data, suggesting decreasing risks. Paul Foster