CVR Energy (CVI) Volatility Nearly Double; Icahn Now Holds 80% of Co. Shares

May 21, 2012 12:21 PM EDT Send to a Friend
CVR Energy (NYSE: CVI) volatility is much higher Monday following disclosure late Friday that activist investor Carl Icahn now holds 70,184,975 shares of the Company -- or about 80 percent of all outstanding -- following expiration of the recent $30 per share tender offer.

Implied volatility is up 95 percent from Friday's close and at 114.6 percent of its historical average.

CVR shares have been moving higher all day, now up 2.3 percent on the session. Volume is a little lighter on the session.

Shares continue to trade comfortably above the 50-day SMA and 200-day DMA.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Options, Trader Talk

Related Entities

Carl Icahn, Options

Add Your Comment