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December 14th, 2006 at 7:44 am
Continuing on ADBE, I note that after the last earnings report it gapped up about $3. I’ve no insight into what ADBE will be reporting this quarter.
A disappointing quarter plus the announcement of the beginning of a public beta for CS3 might be neutral barring macroeconomic perturbations. And obviously, absent other news, the quarter by itself could gap either way.
Anyway, I note that with ADBE at $40.60, the Dec $40 calls are at $1.50 and the Dec $42.50 calls are at $0.50 (calls because I’m an optimist). Only if you’re feeling foolhardy.
reinharden