MannKind (MNKD) shares slipped at the open, falling to $7.48, but have since battled back and are up 38 cents to $8.42. The volatility in MNKD shares comes after the company announced the FDA has informed them that the FDA will not be able to complete its review of Afrezza by the targeted Jan 16 action date. While the early reaction was negative, the stock is back into positive ground and implied volatility is falling, as it doesn’t appear that the delay reflects on the FDA’s view on the data. Options action is brisk, as some premium sellers have surfaced in reaction to the news. Implied volatility (average) is down about 39 percent to about 125.