Tyco (TYC) volatility elevated at 40 into split into three separate companies

Tyco (NYSE: TYC) is recently up $2.51 to $46.21 in pre-open trading following the announcement of a plan to separate into three independent public companies. FRB say's "Our sum-of-parts base case valuation suggests value of $52-$56. Overall option implied volatility of 40 is above its six-month average of 24 according to Track Data, suggesting larger price movement.

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