Buy/write CYPB Cypress Bioscience
Buy the stock, sell the Jun 17.5 call. I am impressed with the stress in this speculative issue with most stocks moving lower today. Bears may get frustrated on CYPB and some may move on to greener pastures. A lot of longs got burned on DNDN and either are out of the game or gun shy.
NTAP Network Appliance is down on poor earnings projections. I'll watch it and look for shorting opportunities.
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