ajtj99's Market Pulse

[The Freep]

AJ-- about those CSCO calls....

No question they're overloaded (beyond 20, too). But one thing that makes them POTENTIALLY a little less of an obstacle is that the January 2005 options have been available for years at this point. It's impossible for me to even guess the average cost of those options, but I'd wager that many of them were purchased long ago at higher prices. Consequently, in the Freepish interpretation of how optionfolk screw the most, a move to 21.3, say, even at expiry might not really cost them any money. And that's a sweet 10% move.

the freep