BCE Inc (NYSE: BCE) is trading at $34 in pre-open trading, above its close of $32.71.

BCE will ask Supreme Court of Canada on June 17, 2008 to overturn an appeals court ruling that the takeover of the company by an investment arm of Ontario Teachers Pension, Providence Partners and Madison Dearborn Partners didn't adequately consider the negative effect on bondholders.

BCE July option implied volatility of 35 is near its 26-week average according to Track Data, suggesting non-directional price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com