IEP has been in recovery mode since hitting a bottom in May
Icahn Enterprises Inc (NASDAQ:IEP) is in the spotlight today, after Carl Icahn officially untied his personal loans from the trading price of the company shares, addressing short-seller accusations from May. IEP is up 20% at $34.64 at last glance, earlier as high as $35.30.
IEP plummeted following Hindenburg's accusations, hitting a May 25 19-year low of $18.03. Despite being in recovery mode the past few months, the stock remains down 31.3% year-to-date.
So far today, 28,000 calls and 14,000 puts have been exchanged, which is already three times the average daily volume. The July 35 call is the most active contract, with new positions being bought to open there.
Now could be a good time to weigh in with options, too. The security's Schaeffer's Volatility Scorecard (SVS) sits at a high 97 out of 100, meaning it has exceeded option traders' volatility expectations during the past year.