Caesars Entertainment (CZR) volatility at 137 into reaching restructuring deal

September 27, 2016 6:03 AM EDT

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Caesars Entertainment (NASDAQ: CZR) and representatives of its largest groups of creditors have struck a deal to fund a reorganization of the casino's bankrupt operating unit. The new plan boosts the recovery rate foe second lien creditors, including Appaloosa Management. Option implied volatility index mean is at 137, compared to its 52-week range of 65 to 205, according to Livevol.

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