Cablevision (NYSE: CVC), an entertainment & communications company controlled by the Dolan family, closed at $21.65 Tuesday.

The Dolan family has made frequent attempts over the last four years to implement strategic alternatives at CVC.

CVC is expected to announce Q2 EPS on July 31.

CVC August option implied volatility of 47 is above its 26-week average of 40 according to Track Data, suggesting larger price movement.

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