The Options Box

[RCKS]

SagDec15 be careful here buying Calls, if we drop to low 1500 (1519) you will be able to buy 28's. We may bounce a little around 31st/1st but we are not rallying from here. Look at how the market handled the NVLS Mid-Qtr upgrade, they didn't like what was said about Qtr's 3 and 4, which is no visibility. Today a SELL was put out on CSCO. The summer rally is going to come from much lower, maybe even below the Sept. lows, we'll have to wait 'til late June for that though. In all likelihood your 34 and 35's are gonna be well OTM come June expiration, JMHO.
Good trading, steve