Kodak (NYSE: EK) is recently up $1.75 to $14.12.
EK's Board of Directors authorized a stock repurchase of as much as $1 billion, representing 25% of the shares outstanding. EK also announced it received a tax refund from the U.S. Internal Revenue Service of $581 million.
EK call option volume of 29,104 contracts compares to put volume of 2,712 contracts. EK July option implied volatility of 50 is above its 26-week average of 45 according to Track Data, suggesting larger price movement.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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