Option Block 118: Buying Cheapy Premium Trading Block: Market mostly unchanged today. Vol off modestly - a decent day for gamma scalping in the VIX. Jobless claims modestly lower - the market shrugged it off. A Metals/Commodities rundown. Apple on a little bit of a tear which has rallied since mid-December, augmented by a lot of attention with the CES next week. A quick discussion of butterfly and iron butterfly positions. Odd Block: Unusual activity in Barnes & Noble, Inc. (BKS) and Fossil, Inc. (FOSL). Xpress Block: Tim Navabi discusses the recent surge in costumers buying risk, with Bank of America being the most popular. Around the Block: CES on the horizon and will impact the volatility of many tech stocks - be on the lookout for the next Nvidia, which rallied 50% in the weeks following CES last year. Where will oil go now that it's above 100?