10,000 Calls representing 1 million shares will expire, worthless. today. That's money in the bank for the sellers. That's why I sold Calls--certain to make money. What's even better, the stock price is going up--probably short covering from yesterday. Now people are buying in--they don't want to miss the big up. That could put me in a position such that I'll be selling more Calls--practically certain of making money again. And for the person who said LOL: Lots of Luck to you too, buddy.
I bought may puts. Between the economy outlook and iradio there is a ton of downside. And may options avoid any earnings surprises so I think its a solid play. Selling calls should do well. Today's rebound is likely short covering and consolidation before more bear pressure.
"Pandora's quarterly report comes in May. At least one firm, Pacific Crest, expects strong results and upside guidance. I'm not a short-term guy, particularly on this stock, however, the most recent quarter turned a few people around. Another solid earnings release could send Pandora to the high-teens sooner than even I expect."