Crocs reported third-quarter earnings immediately after the market closed. The company's net income for the latest reporting period jumped more than 100% to $56.5 million, or 66 cents per share, from $21.5 million (27 cents per share) last year. Revenue jumped 130% on a year-over-year basis, surging to $256.3 million.

The company's earnings number topped analysts' expectations while revenue was short of the mark. The Street was predicting third-quarter earnings of 63 cents per share and revenue of $258.4 million.

Looking forward to 2007, CROX lifted its 2007 forecast to revenue of $820 million to $830 million and per-share earnings of $1.94 to $1.98. Analysts are currently expecting earnings of $1.97 per share and $835.6 million in revenue.

Yesterday, I commented on the option activity surrounding Crocs ahead of this earnings report. In today's session, the November 60 put was the option of choice, with more than 7,000 contracts changing hands. Based upon the stock's closing price, this active strike is currently almost $15 out of the money with slightly more than 2 weeks until options expiration.

But in after-hours trading, CROX has tumbled more than 18% to test the 61 mark. Coincidentally, the stock's 80-day moving average has risen to the 60 level. Tomorrow could possibly see an intraday reversal in the stock as the shares bounce back from this double-barreled support.