VeriSign (NASDAQ: VRSN) option implied volatility flat at 36.
VRSN provides intelligent infrastructure services for the internet and telecommunications networks. VRSN will report its EPS on 11/1/07 and has an analyst day on 11/14. VRSN closed at $29.80. VRSN over all option implied volatility of 36 is near its 26-week average according to Track Data, suggesting non-directional risks.

IBM (NYSE: IBM) implied volatility of 29 above 26-week average of 20.
IBM closed at $109.22. IBM over all option implied volatility of 29 is above its 26-week avearge of 20 according to Track Data, suggesting larger price risks.

Microsoft (NASDAQ: MSFT) implied volatility of 28 above 26-week average of 22.
MSFT closed at $28.27. MSFT over all option implied volatility of 29 is above its 26-week average of 22 according to Track Data, suggesting larger risk.

Volatility Index S&P 500 Options-VIX at 26.32; 10-day moving average is 26.98.

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

As of 1:42 this afternoon, MSFT is down 11% - that's a whopping $31 billion in market capitalization in one day - to $24.24. One of the commenters to my post last night suggests that "we all just get out of all stocks and then "all stupid analysts can be fired and work in the fields with the Mexican farm workers, because that's what they deserve !!"

While that makes me laugh uproariously with my buddies at the coffee shop, I really don't blame the analysts here. It's not like Microsoft has really given them precise figures to consider. And, in my opinion (and I'd argue, the opinion of those analysts, themselves), MSFT management strategies are murky at best. The Goldman Sachs analyst in last night's earnings call said it best, "It sounds like you're building a Google or Yahoo! inside the company." They're spending a few billion dollars more than expected (and, more than last year) on "cost of sales" and they're telling us that all that money is being spent on increased Xbox 360 costs. I don't think so. And neither does Wall Street.

Chris Liddell isn't going to tell us what's really going on, and my guess is that Softie is building, deliberately and at great developer expense, proprietary software to do what all their competitors are doing. They've already spent a ton on their own ad serving platform - is that only the tip of the iceberg? The answer, I think, is yes. What do you think should be done about the 11% drop in market cap? And are you considering this a buying opportunity? Or are you run, running as fast as you can?