The stock market gyrated between gains and losses today.  At the end of the session the $SPY found itself smack in the middle of the days range.  It was a not too hot, not too cold, type of a day.

$SINA rallied as the CEO did what every investor wished their CEO did, he bought back almost 1/2 a BILLION $$ of the company stock.  The stock rallied 23% and the stock options were up, in some cases, a few thousand percent.

$SINA wasn't the only stock turning penny options into dollars.

Worries from China's overnight collapse of 6% sent indices lower initially before stocks, in now classic 2015 fashion,  recovered their losses into the close.   After the bell stocks are still moving higher.  $GME, $ULTA, and $DECK are all spiking higher after reporting earnings.  A strangle trade on $GME of $41 calls $.80 and $39 puts $.80 should work out rather nicely when the market opens for trade tomorrow.

$EBAY saw large call action, that I highlighted via audio in the chat room

Let's look at some of the unusual option action today: