Monday, January 22, 2007

Pre Close Note

As noted over the weekend, TI (TXN) posts earnings tonight.

Options volume has been very heavy in the Feb30s today... 28k contracts vs open interest of 25k. At m ore than $1 out of the money, this is going to be an interesting wager for some who have bought large blocks of these options today. But as Lauriston commented earlier, 2nd week of earnigns, guidance has not been so hot.. when will the message sink in... excellent point. We;ll know soon enough.

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