| Option traders are pushing implied volatility levels lower at an accelerating clip on Perficient Inc.'s (PRFT) options. PRFT's implied volatility levels jumped from 41.57 percent yesterday to 31.72 percent today---a day-over-day gain of -23.69 percent, which sets PRFT up for some interesting option trades. Learn how to use the volatility skew and other trading indicators in Learning Markets Options Coaching for Only $5. Of course, it is always important to keep implied volatility levels in perspective relative to what they have been in the past for a specific stock because what is considered high implied volatility for one stock may actually be considered low implied volatility for another stock. Looking back at the implied volatility levels for PRFT during the past year, we can see that the highest level PRFT has seen is 85.96 percent and the lowest level PRFT has seen is 31.72 percent. So PRFT's current implied volatility level of 31.72 is right at its low for the year. Seeing that PRFT's implied volatility is falling and that it is right at its low for the year, you now have to determine if you are bullish or bearish on the stock. If you are bullish and want to be more conservative, you may want to look at doing a pairs trade---buying a call on one stock and buying a put on the other stock---between PRFT and IHS Inc. (IHS) or between PRFT and Cognizant Technology Solutions Corp. (CTSH) to hedge some of the risk you may take on by trading PRFT alone. CTSH and IHS are both part of the Business Software & Services industry. You may also want to look at employing one of the following strategies if you are bullish: - Selling a naked put - Entering a vertical spread by buying an ITM call and selling an ATM call - Entering a vertical spread by buying an OTM put and selling an ATM put On the other hand, if you are bearish, you may want to look at employing one of the following strategies: - Selling a naked call - Entering a vertical spread by buying an OTM call and selling an ATM call - Entering a vertical spread by buying an ITM put and selling an ATM put Want to learn how to trade these strategies? Check out Learning Markets Options Coaching for Only $5. | 
