18 January 2007

Can I Please Strangle Mssr. Jobs?

Pre-market Apple (AAPL) trading down $2 at the open. Anyone playing the at the money Feb. strangle must be hurting this morning as the volatility implosion looks to crush those big move dreams.

The Feb. $95 calls (@QAABS) fetched $5.10 at the close while the Feb. $95 puts (@QAANS) were being lapped up at $4.70...should be a wild ride today.

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