Good points, I did check the website and yes they do not expire until Dec 2011. But there does seem to be some discretion about blackouts and excersising options, and affected employees or directors. Regardless, it is safe to say the blackout is over and yes we can see good ol' Raymond St. James did excersise options but from what I can see he is the only one since December unless the site I use does not show all trades. Maybe he's the dumb one or has obligations or maybe not, but if this stock was in bad shape I would think there would be more of this going on.