Time Warner (NYSE: TWX) declared a one-time dividend of $10.9 billion to its stockholders, payable just prior to separation of Time Warner Cable (NYSE: TWC); TWX will receive $9.25 billion of Time Warner Cable's dividend.
TWX overall option implied volatility of 29 is below its 26-week average of 32 according to Track Data, suggesting decreasing price risk.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com










