Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Chinese Internet service and mobile security specialist Qihoo 360 Technology
So what: The newswires from Qihoo are quiet as a mouse, but there's plenty of large-scale options trading to go along with the sudden stock move. A truckload of in-the-money puts expiring today have changed hands while July puts with low strike prices and calls with high ones traded even more briskly.
Now what: I think we're looking at some deliberate market manipulation here. Traders large and small jockey for position, attempting to squeeze profits out of their options just as they expire on today's quadruple witching hour. There's similar action going down around industrial manufacturer Jinpan International
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