FXCM (FXCM) volatility increases on sharp sell off

FXCM (Nasdaq: FXCM) sold off 17% to $9.97 on May 16 after it reported disappointing Q1 earnings. This morning Citigroup downgraded FXCM to Sell and lowered its target for shares to $7.00 from $12.50. Overall option implied volatility of 56 is above its four-month average of 51 according to Track Data.

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