As we have head into Cisco's earnings print tonight, the implied move int he options market has ticked up a bit from ~2.5% last last week to almost 5% which is a bit rich to the avgerage over the last 8qtrs of about 4%.
Last Friday on the show, Dan Nathansuggested buying the at-the-money straddle to take advantage of what he believed has the potential to be a volatile move after earnings based on CEO John Chamber's commentary and the options market underpricing such potential for a move.