Option Block 241: "Legalized Front-Running"

Trading Block: The market trading much more modestly than recent rallies. ZNGA leaning on Farmville 2 - slashing 5% of workforce. Apple rallies up 11 handles, after they announced buybacks. VIX Cash well south of 200 day moving avg. of 15.26. VXX ranks as #3 exchange traded product by volume - avg. 53 million shares/day. Buffet's right hand man, Charlie Munger, calls high-frequency trading "legalized front-running" and "basically evil". EA earnings after the close.

Odd Block: Calls trade in Nationstar Mortgage Holdings. Inc (NSM), calls trade in Network Appliance Inc. (NTAP), and calls trade in Gran Tierra Energy Inc (GTE)

Xpress Block: Tesla lighting up the tape at OX. A lot of stocks trading through their strikes. Lululemon traded back below 75.

Mail Block: Question from BillyMo (@b1llmoo): Do you guys think the Jumbo SPY will be listed on all exchanges and will it be penny wide.

Around the Block: The Jumbo SPY launches! EA update. Earnings: Activision - 5/8 after, Disney - 5/7 (The force is strong with them), Groupon - 5/8 after, Nvidia - 5/9, Tesla - 5/8.