Option Block 256: The Great AAPL and GLD Rebound:

Trading Block

Another broad rally - a "doing stuff" kind of day. Gold spikes. Blackberry annihilated post-earnings. Corzine finally charged in MF Global debacle. The Options Industry Council (OIC) announced today that 361,180,257 total options contracts traded in June, up 10.86 percent compared to last year.

Odd Block

Calls Rolled in Sina Corp (SINA)

Legging into a Butterfly in Tempurpedic (TPX)

Puts Trading Air Products and Chemical (APD)

Xpress Block

Metals, Tesla and Apple were lighting up the tape. Alex gives us a good lesson about margin.

Strategy Block

Tosaw walks us through his recent strategy involving moving to cash after some rumbling in SPY

Around the Block

Earnings looming on the horizon. Remember the Independence Day holiday is this Thursday - be aware to the effect of theta.