We only have one option position expiring today, which is a call option at the $85 strike price for Western Digital (NasdaqGS: WDC) that will expire with no value. Clearly, I was premature in my expectation for WDC to recover from its continued slide. However, I am intrigued by the stock’s behavior over the past two weeks. Since October 8, the Nasdaq 100 Index has fallen more than 3% while WDC has risen slightly. That could mean one of two things: either word is starting to seep out that next week’s quarterly results reported on October 25 will be better than expected, or investors are fleeing high-multiple momentum stocks in favor of deep value. WDC is currently priced at less than five times forward earnings, only one-quarter of the multiple for the Nasdaq 100. No matter how good the news may be next week that wouldn’t have saved our option which will expire today deep out-of-the-money, but it could get the underlying equity moving back up for those of you that own the stock.