Some of the people in the GOOG trading crowd may be retired for life because of losses, not gains. We'll see. :eek:
Great news for all those that shorted truckloads of 500 calls for some "risk free profits" right before expiration
Isn't it amazing .. you don't need a crash to score a black swan. You just need one earnings with mispriced options.
IV was too low for the option sellers to profit or at least not get wiped out in naked positions. The options were pricing in something like a $30 move and instead what resulted was a $90 move. I'd say the market had the wrong view before the earnings came out. Thats a black swan for you. (regretfully I only had vertical long call spreads on).