Well, this sucks. Had a iron condor on them. Was not expecting big movement (10%+) before January 28th the stated earnings. "Seagate Technology Announces Selected Preliminary Fiscal Second Quarter 2013 Financial Results" And it was good news, so stock jumps. The mini-report goes on to say: "Seagate will report full fiscal second quarter 2013 financial results on Monday, January 28, 2013 after the close of the market." Is this legal? Totally screws with traders making time-based bets! Black Swan!
It does suck, but legal...... This is why I only do spreads on indexes.... SPX, RUT and NDX .... no one earnings or news release like this will cause such as significant impact.