Ambac (ABK) is probably one of the most volatile stock on the market. It got ran up from $1 to almost $10 in summer of last year and it popped from 36c to 1.2 the past two weeks. Today, it retraced from 1.2 to 70c. I bought 10k shares today at 75c and sold Jan 2010 $2.5 covered calls for 20c. Ackman is talking on Bloomberg atm, but fuck him. News came out today aftermarket. I believe this company will survive once mister I forgot to pay my taxes talk on Monday. http://finance.yahoo.com/news/Sources-say-toxic-asset-plan-apf-14707692.html