Sentiment in Kings Pharmaceuticals (KG, news, chart) remains bullish despite today’s slide. Shares are trading down $1.56 to $10.69 after the company posted quarterly earnings of 32 cents a share, which missed analyst estimates by two cents. Revenues fell 27 percent to $397 million, vs. 397.3 million consensus. Yet, while shares are sinking, sentiment in the options market remains bullish. 7,400 KG calls have traded, compared to 633 puts. Implied volatility remains elevated near 75 percent, compared to a historical volatility of 23.3 percent. The 51.7 percent difference between IV and actual volatility makes KG one of the richest options contracts today. Recall that shares rallied and call volume jumped in King Pharmaceuticals on Tuesday following chatter about possible buyout interest from Pfizer (PFE).