.buying swing +RFYVX - RIMM $85.0000 Oct 2008 PUT at 2.70 area OVERSIZED, RIMM has her earnings today after market. Now the last earnings we had a spectacular play but RIMM was at 145 area, when growth showed a slow down the stock overnight lost close to 20 points. Now this time RIM is at much lower levels but a oversized options puts stake can be a 1/3 hedge on the AAPL 3x oversized calls stake. So this time the best case sinerio would be for the market to like the RIMM earnings and move all of tech higher, but if it dosent and the iphone shows that its slowing again and now more pronouncly the RIMM growth , then this hedge can easily make up for the AAPL calls on a sharp fall. Again a sharp fall would have to show much more slow down in growth , she has to miss the whisper of .89 on her earnings. long term I think RIMMs days are numbered. Again in this environment with a strong consumer slow down its wise to have hedges, and as we have seen before those hedges can become big winners overall.