Legg Mason (LM) volatility low; Peltz joining board of directors
Legg Mason (NYSE: LM) closed at $31.90. LM announced that Nelson Peltz, CEO of Trian Fund Management, will be elected to the company's board of directors. Peltz is a significant investor in LM. LM November option implied volatility is at 47, December and January is at 43; below its six-month average of 54 according to Track Data. Paul Foster
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