Option Block 345: Beating the Street on Dollar General

Trading Block: A mild day on the street. Apple stock split. A possible Deutsche Bourse sale of ISE.

Odd Block: Activity review from last week: Carl Icahn disclosed a 9.4% stake in Dollar General (DG) and shares soared. We knew something was up last week. Call buyers in USG Corp (USG), puts rolls trade in Kodiak Oil and Gas Corp. (KOG), and crazy call buying in Clorox Group (CLX)

Xpress Block: Apple dominates the housekeeping, speculating on Lululemon earnings, and a stealth rally in Oil

Mail Block: Listener questions and comments

• Question from Alexander Soja - Love the program. I listen on my commute to and from work. I would like to know more about the broken wing butterfly. What is this strategy and why would it be useful?
• Question from MrTeenzy - All this talk about colocation for HFT firms. But do brokers like OX not also co-locate to speed up transaction times? In which case, is colocation not benefiting the retail guy like me?

Around the Block: S&P 500 edging toward the 2,000 mark. It could happen in the next few weeks. Lululemon earnings 6/12.