Apple Inc. (NASDAQ: AAPL) is trading at $173.15 at 10 am, up a bit more than 1%.
Steve Jobs is expected to introduce the Apple 3G iPhone with pricing in early 2008, and AAPL is expected to report EPS in mid-January. Macworld will be held January 14-18 in San Francisco.
AAPL January and February option implied volatility of 68 is above its 26-week average of 48 according to Track Data, suggesting larger risk.
Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com