Option Block 256: The Great AAPL and GLD Rebound

Published: July 2, 2013, 2:42 p.m.

Option Block 256: The Great AAPL and GLD Rebound:

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Trading Block

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Another broad rally - a "doing stuff" kind of day. Gold spikes. Blackberry annihilated post-earnings. Corzine finally charged in MF Global debacle. The Options Industry Council (OIC) announced today that 361,180,257 total options contracts traded in June, up 10.86 percent compared to last year.

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Odd Block

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Calls Rolled in Sina Corp (SINA)\xa0

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Legging into a Butterfly in Tempurpedic (TPX)\xa0

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Puts Trading Air Products and Chemical (APD)

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Xpress Block

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Metals, Tesla and Apple were lighting up the tape. Alex gives us a good lesson about margin.

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Strategy Block

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Tosaw walks us through his recent strategy involving moving to cash after some rumbling in SPY

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Around the Block

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Earnings looming on the horizon. Remember the Independence Day holiday is this Thursday - be aware to the effect of theta.