Time Warner (NYSE: TWX) is recently trading at $23.57 in pre-open trading, above its close of $23. TWX announced plans to separate AOL from TWX in a tax free transaction. TWX June option implied volatility is at 48; July is at 46; below its 26-week average of 56, according to Track Data, suggesting decreasing price movement.
Volatility Index S&P 500 Options (CBOE: VIX) at 32.36; 10-day moving average is 31.31.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com










