Priceline (NASDAQ: PCLN) August straddle Expensive at $7.20 into EPS. PCLN is recently up $3.08 to $64.81. PCLN will report EPS after the close tonight. PCLN August straddle is priced at $7.20. PCLN September option implied volatility of 54 is above its 26-week average of 36 according to Track Data, suggesting larger price fluctuations.

Sprint Nextel (NYSE: S) option prices Elevated as expected into 8/8 EPS. S is expected to report EPS of 22 cents before the open on 8/8 according to Thomson First Call. Stanford Group says "a key data point will be whether S has been able to turn around its postpaid subscriber business." S August 20 straddle is at $1.70. S September option implied volatility of 39 is above its 26-week average of 29 according to Track Data, suggesting larger risks.

Knot Inc. (NASDAQ: KNOT) August straddle Expensive at $3.50 EPS & Outlook. KNOT, the nations leading wedding resource that reaches over 1 million engaged couples each year, will report EPS on 8/8. CIBC says "the 23% drop in the stock since the reporting of 1Q is largely attributed to investors' growing skepticism of management's ability to effectively monetize its assets. Without a material catalyst, the shares are not yet 'cheap' enough." KNOT August 17.5 straddle is at $3.50 according to Track Data, suggesting larger fluctuations.

Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.