Sorry if I missed it, but what is this supposed information that hasn't been released (and how do you know about it)?
As for options, I have no idea whether these are/were being played, but when you buy options it's always a big risk due to the leverage involved. And if you haven't noticed, the overall market is shite for the last 10 months since the BIG/GSW debacles (ie. Not a time to be leveraging, imo). Of course trading in and out could be an option, but I wouldn't personally hold anything but the heads due to volitility.