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\\nOption Block 236: Riding the Earnings Rollercoaster
\\nTrading Block: The market was down big time. Again. Earnings-palooza after the close with CMG, GOOG, MSFT, and IBM reporting.
\\nOdd Block: Puts trade in Bally Technologies Inc. (BYI), put spreads trade in Banco Itau Holdings SA (ITUB), OTM puts trade in Auxilium Pharmaceuticals Inc. (AUXL), and Financial Select Sector (XLF) puts trading early.
\\nXpress Block: Alex Jacobson discusses pending legislation in Washington. New proposed tax laws: capping IRAs, and the elimination of 1256, which creates mark-to-market accounting for every contract.
\\nAround the Block: More earnings fun.
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