On January 16, we advised that The Knot (KNOT) was overvalued at its then current share price of $31. We recommended purchasing the April ‘07 $25 puts (BQCPE.X) - then trading at $1.20 as a way to play that overvaluation.  Well, earlier this week, KNOT reported disappointing 4th quarter 2006 results and the stock has since traded down to $25 […]