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Chesapeake (CHK) volatility elevated on capital uncertainty

May 14, 2012 9:15 AM EDT
Chesapeake (NYSE: CHK) is recently up 58c to $15.39 on non-recourse loan announcement and reports activist investor Carl Icahn will soon disclose that he has taken a significant stake in the troubled natural gas company. Citgroup Global Markets say’s “Buying time – unsecured loan supplants revolver for now.” Overall option implied volatility of 93 is above its 26-week average of 46 according to Track Data.


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