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Heading into the event, options volume was skewed toward the call side on Tuesday.
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Based on my discussions with European carriers, I believe we are heading to double-digit handset volume declines in Europe in 3Q12.
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Options activity was brisk on Friday, but elevated volume is typically par for the course heading into an extended holiday weekend.
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With production heading for 1m cars a year, it is already a volume producer rather than a specialist luxury car maker.
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Calls are extremely popular heading into the event, with 144, 262 of these typically bullish bets changing hands on Thursday, compared to volume of just 32, 471 put contracts.
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