It's hard to say. I have been playing this drama with M calls and puts for JCP and MSO. With the high time premium for the M calls, I closed out my positon at the open today and am glad I did. M has dropped sharply.
JCP is down again today, so I can't explain the MSO pop.
Ron Johnson was a terrible witness and Martha just expounded on her sense of entitlement. JCP can't wrap up its case and it looks like a delay for a month with the temporary injunction left in place and perhaps expanded to include "JCP Everyday" products designed by MSO .