GPS, which has been a strong performer for me, announced poor August sales last night along with projection of lowered margins (as they have to put items on sale). The stock is down about 6% as traders sip their M cCafe Lattes.
It is ironic (but not funny), I had put in an order yesterday to sell calls on GPS for December with a $50 strike price at 95 cents. I could have gotten 90 cents if I had not been "greedy". I think it is fair to expect that will drop to like fifty cents today. Would have been nice to have gotten the ninety cents to supplement my dividend income.