For the record, I'm short, hold May $145 puts that I will likely roll over to Junes before earnings. My question: What is going on with the IV on the options? Stock is basically flat today, but both OTM calls and ITM puts are down substantially today. I wouldn't expect this in the run-up to earnings. Anyone have any ideas?
I realize that as we approach op-ex, I'll lose some time value, but I figured earnings would prop it up to a certain extent. Seems like the IV is getting sucked out of the options for CRM, but for what reason, I don't know. TIA for any info on this.