Option Block 185: Dividend Trade Blowup

Trading Block: VIX getting some of the weekend back courtesy of some selloff love. It's been a while since we've have a 1% down day. A big whoops with dividend trades for Merrill Lynch occurred Friday. Facebook taking it on the chin - down about 9%. Apple closing today down about 1.5%.

Odd Block: Some significant size going up in XLF; Oct 100 puts going up before earnings in Factset Research Systems Inc. (FDS), and; it’s off to the upside races in Proctor & Gamble (PG).

Xpress Block: John Grigus takes the OX hot seat today. A slow day on the desk, but Apple was the hottest topic. Closing out and dividend risk.

Around the Block: Initial claims and new home sales this week. Nike and RIMM earnings 9/24.