There's some ugly options activity in this name right now. Why are the bears circling Estee now? Earnings aren't for another month! See below: Unusual Options Activity Alert: Estee Lauder (EL) & Harley Davidson (HOG) Posted at www.theoptionsinsider.com on 7/15/2008 i by Frederic Ruffy Bears Circle Estee Lauder Estee Lauder (EL) saw bearish options order flow for the second time in three trading sessions. On Friday, volume rose to nine times the usual, amid signs of increasing buying interest in the August 35 and August 30 puts. Tuesday, options volume ran six times the usual, with 6,800 puts and 77 calls trading on the day. The August 35 puts were again the most active, with 5,200 contracts and 98 percent of todayâs volume trading offerside. The stock fell $.64 to $42.16 and directional sentiment based on todayâs options order flow in EL was 87 percent bearish. EL Earnings are due out mid-August, possibly before the August options expire... rest of article here: http://www.theoptionsinsider.com/tradingtechnology/?id=949