Today might have been one of the more boring options expiration dates. If you pretend that technology stocks weren't a part of the market, today was rather stable considering the major bounces we have seen. Oil stayed under $129.00 per barrel, which didn't give the bears much meat to chew on. We had essentially no government economic data today. Here are today's unofficial closing levels:

• DJIA 11,496.24 (+49.58)
• S&P500 1260.65 (+0.33)
• NASDAQ 2282.78 (-29.52)
• 10YR T-Note 4.081% (+0.043%)
• 52-WEEK LOWS
• Top Analyst Upgrades
• Top Analyst Downgrades

Apple Inc. (NASDAQ: AAPL) is set report earnings after the close of trading. Read a FULL EARNINGS PREVIEW. Shares of Apple were down over 3% at $166.10 in today's final minutes of trading.

Monday marks the 8th anniversary of the NASDAQ reaching its' all time high. I remember the day quite clearly as it was a Friday and I got married on that Sunday. From March 10th 2000 to early Oct. 2002, the NASDAQ dropped about 78%, even with a bit of a comeback over the last five years, the index is still sitting over 55% under the all time high.

In fact since the recent high at the end of October, the index has shed more than 22%. What does all this mean? While we may not see a return to all-time NASDAQ highs for another decade, the index has again gotten very cheap. It could be that the index is setting up for a move to the upside. After all, this past Friday, the NASDAQ easily outperformed the DOW, and I think we are going to start seeing a rotation into technology names.

Tech earnings haven't been to bad. All the pundits will say that with a recession, tech spending will get cut. Go into your nearest Apple (NASDAQ: AAPL) store and there are no signs of a recession. Check out the earnings for Research in Motion (NASDAQ: RIMM), things look okay. Heck, Google (NASDAQ: GOOG) is starting to look interesting as a value stock.

It may not happen tomorrow, but for long-term investors, technology maybe a place to think about investing.

Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer's fund has no position in any stock mentioned, as of 3/9/08.

Computer Sciences(NYSE:CSC) call volume and volatility spikes on renewed speculation. CSC is recently up .97 to $61.27 on unconfirmed deal chatter Blackstone(NYSE:BX) or Hewlett Packard (NYSE:HPQ) will make a bid. CSC is frequently chatted as being sold to IBM (NYSE:IBM), Lockheed Martin(NYSE:LMT), United Technologies (NYSE:UTX) or private equity after Apollo Managements' bid for the CSC failed in the spring of 2006. CSC July 62.5 calls have traded 126 times on transaction volume of 3,459 contracts above its open interest of 2,356 contracts. CSC August option implied volatility of 36 is above its 26-week average of 25 according to Track Data, suggesting larger price fluctuations.

Option volume leaders today are: Novastar Financial (NASDAQ:NFI) and Apple Computer (NASDAQ:AAPL).

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

Royal Dutch Shell(NYSE:RDS) volatility flat as BP is mentioned as M&A partner. RDS is recently up .56 to $83.95. The Daily Mail is reporting that BP and RDS are in merger talks. RDS over all option implied volatility of 17 is near its 26-week average according to Track Data, suggesting non-directional risk.

Dendreon(NASDAQ:DNDN) implied volatility & volume at low end of range last two days. DNDN, a biotechnology company focused on discovery, development and commercialization of therapeutics to fight cancer, is recently trading up .73 to $7.99. DNDN over all option implied volatility of 57 is below its 26-week average of 111 according to Track Data, suggesting decreasing risk.

Option volume leaders today are: Research in Motion (NASDAQ:RIMM), Apple Computer (NASDAQ:AAPL) and Baidu (NASDAQ:BIDU).

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

Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) -- volatility Elevated on renewed Kerkorian speculation. HOT, a leading hotel and leisure company, is frequently mentioned as a private equity break up/recapitalization candidate. Chatter is circulating that Kirk Kerkorian's Tracinda has a mid-$90's offer on the table for HOT. HOT is recently up $0.63 to $70.64. HOT has a market cap of $15 billion with long term debt of $1.8 billion. HOT reported quarterly March 2007 total revenue of $1.4 billion. HOT July option implied volatility of 34 is above its 26-week average of 27 according to Track Data, suggesting larger risk.

Countrywide Financial Corp. (NYSE: CFC) -- volatility not confirming renewed takeover speculation. CFC, the largest U.S. home mortgage lender, is recently up 26 cents to $38.16. CFC July option implied volatility of 36 is near its 26-week average of 34 according to Track Data, suggesting slightly larger price fluctuations.

Option volume leaders today are: Apple Inc. (NASDAQ: AAPL), Freeport McMoran (NYSE: FCX), Goldman Sachs Group (NYSE: GS) and Valero Energy Corp. (NYSE: VLO).

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

Research In Motion Ltd. (NASDAQ: RIMM) opened at $152.74. So far today the stock has hit a low of $152.06 and a high of $158.06. As of 10:45, RIMM is trading at 156.94, up 4.94 (3.3%).

RIMM has made a series of jumps over the past eight months, launching shares to a new all-time high today. The stock has been getting some good press today as some analysts expect RIMM to benefit from the upcoming release of the Apple (NASDAQ: AAPL) iPhone. RIMM's Blackberry offers many of the same features but for a lower price tag, and when consumers go to upgrade their current phones, they may be more inclined to select a new Blackberry over the iPhone. Recent technical indicators for RIMM have been bullish and steady, while S&P gives the stock a neutral 3 STARS (out of 5) hold rating.

For a bullish hedged play on this stock, I would consider a July bull-put credit spread below the $120 range. RIMM hasn't been below $120 since October and has shown support around $147 recently. This trade could be risky if this typically volatile stock breaks downward below 130, but even if that happens, RIMM has strong support around 121 formed back in January.

Brent Archer is an options analyst and writer at Investors Observer. Do you have any deadwood in your portfolio? Check out the 18 Warning Signs That Tell You When To Dump A Stock.

DISCLOSURE: Mr. Archer owns and/or controls diversified portfolios of long and short stock and option positions that may include holdings in companies he writes about. At publication time, Brent neither owns nor controls a position in AAPL. Brent does control a long hedged position in RIMM.

Dow Jones (NYSE: DJ) implied volatility Flat prior to CNBC report of NWS bid.

• NWS makes $60 dollar bid for DJ according to CNBC's David Faber.
  
• DJ overall option implied volatility of 24 was near its 26-week average according to Track Data prior to DJ trading halt, suggesting non-directional risk before report.

New York Times (NYSE: NYT) volatility spikes on NWS interest in DJ reported by CNBC.

• NYT is recently up $1.82 to $25.21. NWS makes $60 dollar bid for DJ according to CNBC's David Faber.
  
• NYT May option implied volatility of 27 is above its 26-week average of 23 according to Track Data, suggesting larger price risk.

Option volume leaders today are: Apple Inc. (NASDAQ: AAPL), Amazon.com, Inc. (NASDAQ: AMZN) and Dendreon Corp. (NASDAQ: DNDN).

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

This post is part of our Battle of the Brands feature. Let us know which brand you prefer, and watch out for more Battle of the Brands posts.

It seems that the competition that has been brewing between Apple Inc. (NASDAQ: AAPL) and Microsoft Corp. (NASDAQ: MSFT) has never really died down from the late 1970s, even as both companies have had ups and downs in the stock market and in the consumer products market as well. The battle between Apple and Microsoft has been (and will be) a perfect case study for future business textbooks at the best universities, as the fight between the two has been nothing short of amazing in the past 25 years or so.

Apple

Apple's start began with Steve Jobs (visionary guru) and buddy Steve Wozniak (tech guru) trying to find a way to get customers buying the personal computer before the market and world even knew what a personal computer was. Steve Jobs was trained in calligraphy and wanted the PC experience to be just as much an art and visceral, visible experience as a technical, computer program-interface experience. With that vision, and with a little help from friends, the two Steves started selling Apple's first PC products out of a garage about 27 years ago in the Southern California area, after Jobs dropped out of college due to lack of funds and general boredom.

What transpired throughout the early 1980s was the rapid growth of Apple Computer Inc. as the PC powerhouse at the same time it was grabbing the attention of MicroSoft (later renamed Microsoft Corp.) founder Bill Gates, who had dropped out of Harvard to pursue his vision of coming up with a PC operating system that he could "license" to all the big hardware manufacturers to use on their machines. But, Gates needed a nice interface to ensure his product was better than Apple's.

The Volatility Index for S&P 500 Options (VIX) is up .14 to 13.10.

Oakley (NYSE: OO) -- implied volatility suggests flat risk as OO trades towards record high. OO, a designer, developer, manufacturer, and distributor of eye wear & accessories, has rallied sharply over the last four days. OO is recently up $1.59 to $23.16. OO has a market cap of $1.53 billion with zero long-term debt. OO reported 2006 annual revenue of $761 million. OO April option implied volatility is at 33, May at 31; near its 26-week average according to Track Data, suggesting non-directional price fluctuations.

Genentech (NASDAQ: DNA) -- option implied volatility suggests decreasing risk into 4/11 EPS. DNA is expected to report EPS of .67 cents on 4/11/07 according to Thomson Financial Network. Robert Bard says "despite DNA's tepid Q107 overall revenue guidance, we do think Avastin upside potential is strong, and may continue to drive the stock. Reiterate Outperform rating." DNA April option implied volatility of 21 below its 26-week of average of 25 according to Track Data, suggesting decreasing price fluctuations.

Option volume leaders today are: Consol Energy (NYSE: CNX), Qualcomm (NASDAQ: QCOM), Apple Inc. (NASDAQ: AAPL) and Amgen Inc. (NYSE: AMGN).

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

The Volatility Index for S&P 500 Options (VIX) is up .16 to 13.62.

Cypress Bioscience (NASDAQ: CYPB) -- option implied volatility Elevated at 194. CYPB closed at $7.46. Data from CYPB's end PII Milnacipran (Fibromyalgia Syndrome; FMS) trail, is expected to be released before mid-year. JEFF has a Buy on Attractive Risk/Reward with a $14 price target on CYPB. JEFF says "our diligence with investigators and statisticians increase our confidence in the prospects for a positive outcome." CYPB June option implied volatility is at 194 according to Track Data, suggesting large price fluctuation risk.

Starwood (NASDAQ: HOT) -- implied volatility suggests Flat risk; HOT at Record price on Chatter. HOT, a leading hotel and leisure company, is frequently mentioned as a private equity break up-recapitalization candidate. HOT is up $1.13 to $70.97. HOT's CEO Steve Heyer resigned on 4/12/07. HOT will announce EPS on 4/26. HOT has a market cap of $16 billion with long term debt of $2.3 billion. HOT reported 2006 annual total revenue of $5.9 billion. HOT May option implied volatility of 26 is near its 26-week average according to Track Data, suggesting non-directional risk.

Option volume leaders today are: Best Buy (NYSE: BBY), Qualcomm (NASDAQ: QCOM), Apple Inc. (NASDAQ: AAPL) and Altria (NYSE: MO).

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

It looks like Apple, Inc. (NASDAQ: AAPL) is using its power for good. Now that it's partnering with major music companies in the digital music arena, it's hoped that customers will soon be able to listen to their music without all the nasty Digital Rights Management (DRM) problems that limits their digital music choices.

The music industry has been deathly afraid of the transition from CDs and other physical media to digital formats (MP3, for example), and so it locked up files in a protective "wrapper" that prevented customers from trading digital music files for free like candy outside a candy store. The only problem with that was that the universe of digital music players ended up with different formats, incompatibility issues, extreme customer frustration and the actual limiting of music sales for many companies based on how heavily they all treated customers as criminals.

That day may be ending, and to a good part, we have Apple CEO Steve Jobs to thank for this. Although Jobs was not even close to being the first to publicly state the need for getting rid of digital protection in order for the music industry to expand, his voice was probably the most powerful. As such, the EMI Group will soon sell its digital music filed on Apple's iTunes music store with better sound quality and no digital rights management restrictions. Strike one up for pleasing the customer, not the stingy and protective record labels. Apple just can't seem to do wrong these days, and I think its shares reflect that, yes?

The Volatility Index for S&P 500 Options (VIX) is up 1.33 to 14.28.

Option volume leaders today are: Apple Computer (NASDAQ: AAPL), Tesoro (NYSE: TSO), Oracle (NASDAQ: ORCL) and Microsoft (NASDAQ: MSFT).

Dendreon (NASDAQ: DNDN) straddles the expensive rating on heavy volume, suggesting Large Risk. DNDN, a biotechnology company focused on the discovery, development and commercialization of therapeutics that harness the immune system to fight cancer, is recently up $.57 to $5.03. DNDN's lead drug Provenge (for treatment of asymptomatic, metastatic, androgen-independent prostate cancer) has a Prescription Drug User Fee Act (PDUFA) review date on May 15th. DNDN call option volume of 15,831 contracts compares to put volume of 14,850 contracts. The DNDN April 5 straddle is at $3.20 and the May straddle is priced at $4.05, suggesting large price risk.

The Daily Option Update is provided by Stock Options Specialist Paul Foster of theflyonthewall.com.

Volatility Index S&P 500 Options-VIX down 0.21 to 12.72

Genentech Inc. (NYSE:DNA) option volatility at all-time lows as news flows from Analyst day. DNA is recently down $3.06 to $82.22.
DNA is providing investors today with an overview of recent developments. DNA says it "aims to bring at least 20 new molecular entities into clinical development between 2006 and 2008." Bloomberg reported DNA that said Avastin lung cancer study was stopped for safety. DNA call option volume of 12,491 contracts compares to put volume of 11,435 contracts. DNA April option implied volatility of 20 is below its 26-week of 25 according to Track Data, suggesting decreasing price risks.

Abbott Laboratories (NYSE:ABT) option implied volatility flat as ABT near 5-year high into ACC 2007. ABT is recently at $54.28.
ABT has four business segments: Diagnostic Products, Nutritional Products, Pharmaceutical Products & Vascular Products. The American College of Cardiology annual meeting takes place in New Orleans, March 24-27. ABT overall option implied volatility of 18 near its 26-week average according to Track Data, suggesting non-directional risk.

Option volume leaders today are: Apple Inc. (NASDAQ:AAPL), Motorola Inc. (NYSE:MOT), Amgen Inc. (NASDAQ:AMGN) and Imclone Systems Inc. (NASDAQ:IMCL).

Note: The Daily Option Update is provided by Stock Options Specialist Paul Foster of theflyonthewall.com.

Volatility Index S&P 500 Options-VIX up .05 to 12.30

BJ Services Co. (NYSE:BJS) calls active at low implied volatility on M&A chatter.
BJS, a provider of pumping and oilfield services for the petroleum industry, is recently up $0.51 to $27.24 on unconfirmed chatter Halliburton Co. (NYSE:HAL) is interested in BJS. BJS has a market cap of $7.9 billion with long term debt of $499 million. BJS reported annual 2006 sales of $4.3 billion. BJS call option volume of 15,700 contracts compares to put volume of 1,923 contracts. BJS April option implied volatility of 32 is below its 26-week average of 35 according to Track Data, suggesting decreasing price risk.

Unisys Corp. (NYSE:UIS) implied volatility indicates Flat risk; UIS mentioned as target of Dell Inc. (NASDAQ:DELL).
UIS, a technology services and solutions company, is recently up $0.16 to $8.59. Dow Jones reported on 3/21 that Michael "Dell said in China that one of his company's top priorities is to boost its services business and that there will likely be acquisitions in that area." Dow Jones listed BE, SAPE & UIS as potential targets. DELL has a market cap of $52 billion. UIS has a market cap of $2.9 billion with long term debt of $1 billion and annual 2006 sales of $5.7 billion. UIS overall option implied volatility of 38 is near its 26-week average according to Track Data, suggesting non-directional price risk.

Option volume leaders today are: Apple Inc. (NASDAQ:AAPL), Motorola Inc. (NYSE:MOT) and Palm Inc. (NASDAQ:PALM).

Note: The Daily Option Update is provided by Stock Options Specialist Paul Foster of theflyonthewall.com.

With Apple's iPod and other products firing on all cylinders these days, current CEO Steve jobs appears to be on top of the world. His company's products are ultra-cool and are doing extremely well, Jobs is having great success with Pixar Studios as well as Apple Inc. (NASDAQ:AAPL) and AAPL shares are doing very well year after year.

With the impending release of the Apple iPhone, it seems that Apple (and Jobs) can do no wrong at this point in time. One can make a case for Apple products being more popular in the consumer electronics and computing field than they ever have been. Not a bad decade for Jobs and company, so far.

Contrast this with the impending departure of Bill Gates from Microsoft Corp. (NASDAQ:MSFT) to focus on his worldly philanthropic efforts. I am a great admirer of Gates and the philanthropy that bears his name based on the projects he donates to and funds. It's been said that the rise of Microsoft and MSFT stock was made on ill-gotten strategies, illegal monopolistic tactics, and other not-good things. Have those who have bought Microsoft products (default on almost every PC these days) actually subsidized the Bill & Melinda Gates Foundation? Hmm.

That aside, the release of Windows Vista -- so far -- is what I what consider to be a nonevent for the software giant. Sales are not expected to ramp up nicely for quite a while as critic after critic says that the consumer market should be just fine with that older copy of Windows XP.

Is Windows Vista, which has been torn apart viciously already by reviewers, just another upgrade without much potential except for padding Microsoft's bottom line? If history judges it that way, then Bill Gates will leave Microsoft with hardly an explosion at all. The one lingering -- and hugely important -- piece of Gates's legacy won't be at Microsoft at all.

[Disclosure: I own MSFT shares as of 3-9-07]