W.R. Grace (NYSE: GRA) closed at $26.18 Monday.
In a hearing scheduled for mid-January, GRA lawyers will attempt to persuade a Delaware bankruptcy judge to value worthless tens of thousands of claims stemming from lawsuits against GRA, which used asbestos for fireproofing products.
GRA February option implied volatility of 61 is above its 26-week average of 57 according to Track Data, suggesting slightly larger price risk.
Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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