Ford (NYSE: F) is recently trading at $8.23 in pre-open trading, above its close of $7.50.
Tracinda Corporation announced it intends to make a cash tender offer for up to 20 million shares of common stock of F at a price of $8.50. Tracinda currently owns 100 million shares of F, representing approximately 4.7% of the outstanding shares.
F May option implied volatility of 61 is above its 26-week average of 54 according to Track Data, suggesting larger price movement.
Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com










