Showtime For Apollo

Between the death of Michael Jackson, a prolonged and spectacular car chase, and the Madoff sentencing, the cable news world has been in a virtual frenzy this afternoon. It's like a gift from God for those who make a living producing this stuff.

But believe it or not, there's another event that will occur in just minutes after the close that is sure to titillate yet another, albeit smaller demographic: Apolloinvestors .

That's because the education provider is set to release results after the bell, and while one could argue that such an event pails in comparison to high speed car chases, the death of a pop icon, and the comeuppance of one world's reviled figures, consider the following: in the last eight quarters, the stock has moved an average of 15% on the day after earnings.

With moves like that, it's no wonder some options traders are already placing their bets on a big move. For example, today we saw heavy volume on the July 75 and 80-strike calls, as well as some decent activity at the July 60-strike put. According to Dan Nathan, whose television persona trumps any car chase, many of those 80-strike calls and 60-strike puts were sold, indicating that some options traders think the move may not exceed those levels. Still, even if Apollo stock stays within those strikes, a big move appear likely, and that is big news no matter what's going on in the world.

Great Slideshows on CNBC.com Including:

Questions, comments send them to us at: optionsaction@cnbc.com

Contact Options Action

  • Showtimes

    Fridays, 5:30p ET
    Saturday, 6a ET
    Sunday, 6a ET
  • Melissa Lee

    Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

Sponsored Related Links

More on thinkorswim by TD Ameritrade

  • Make sure you’re always keeping up with the market with up-to-the-minute news and breaking stories. Move on possible breakout stocks and options with potential opportunity. Plus, get in-depth analysis on futures and forex in one seamless, integrated experience. Join TD Ameritrade and trade commission-free for 60 days + get up to $600 cash.