Earnings

Big week for earnings announcements. IBM kicks off this afternoon after the close followed by AAPL tomorrow afternoon.. Many more to come including JNPR, AMZN, SIVB to name but a few. I bought and sold some GOOG calls today because of the very deep sell off on their earnings release and because of the very positive write up in Barrons from Saturday. Nice, quick, intraday trade good for $2500. I sold some MA puts this morning because I think the sell off in Master Card is way over done, support looks to me to be in the $190 to $195 range, and they report on the 3rd of August. Assignment at $190 would not be the worst thing in the world. The puts I shorted are the August 190's by the way. I also bought some IBM August 110 calls as a play on the earnings release. Pure speculation. Over the past 12 quarterly releases for Big Blue, the stock finished above the prior close 7 times. I think it will be a good report and depending on guidance, this may be good for a couple of points.

On to more interesting and pressing matters: True Blood. Last nights episode was a delight. If I may; more Bill, Russell, Russells lover (don't know his name), Lafayette, Franklin, Eric, Pam and Jessica. Less Sookie, Sam, Jason and much, much, much, less Tara.