L-3 Communications (LLL) calls active; Relational to report LLL largest shareholder-WSJ

L-3 Communications (NYSE: LLL) calls are active on total call volume of 8K contracts (3K puts). The WSJ say's activist investment firm Relational Investors LLC is expected to report that it has become the largest shareholder of L-3. July call option implied volatility of 22 is near its six-month average according to Track Data.

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