7:30am (EST)

Blue Coat Systems (BCSI, $16.00, down $0.54) was scheduled to report earnings after the bell on Wednesday but delayed the announcement until next week. The company said it needed the extra time to complete the books for the quarter that ended April 30th. That is not a good sign if you are a shareholder.

The company also added the postponement was due to a recently identified “irregularity” with one of its shipments in its European operations. What we want to watch for is the earnings number. Blue Coat is expected to report earnings of 18-24 cents a share on revenue of $112-$118 million. Wall Street has got them penciled in at 21 cents, $114 million.

Usually something like this is not going to produce an earnings surprise and it’s possible this event is no big deal. But it is an interesting development. There may be a trade but we will have to wait to see how this one shakes out.

The good news is that if there is a trade, you will soon have access to it. I have been mentioning the changes we are making and I’m so excited that I can hardly wait to reveal the details.

I can tell you this. The service we are about to roll out is going to knock your socks off and it will be VERY affordable. I should have more details by the weekend in the Weekly Wrap and will keep you updated in the blog.

We have heard your requests and we are working hard to offer you the best options mentoring program on the planet. If you are new to options trading, this is one event you will not want to miss. Stay tuned…

Back to Blue Coat… the stock was down 10% in after-hours trading last night. The June 17.50 calls (IYUFQ, $0.75, down $0.11) traded 1,200 contracts and hit a high of $1.00 on Wednesday. The June 15 puts (IYURC, $0.85, up $0.20) traded about 400 contracts so traders were taking the bullish side of the trade going into the close.

Send me an email if you are interested in the mentoring/ trading service. We will probably have a limited number of spaces only because of the incredible value we will be offering. I want those of you who have followed me on a regular basis to have first dibs. Man, I can’t wait to share the great news!

Rick Rouse
Rick@OptionsMentoring.com