i see it going nowhere. up 50 cents to a buck one day, down an equal amount the next. this puppy is tied to max/current pain. it's 21 for oct opex, 20 for nov and 19 for dec. the downward slope does not bode well for ovt.
the closer you get to opex the more pronounced is the correlation.
i normally play both ups and downs. i feel it's the way to go. i use max/current pain as a fair value guide.
however, i am hesitant to go long because i fear there may be some confirmation of the sony rumor causing the price to plummet because the idea that ovt has lost the iphone 5 biz to sony is not in the price at all. jmho