On: Facebook trades under $30, down 7%+

[mattlong]

Employees are typically awarded stock options with a non-zero strike price based on the FMV of the company at the time the options grant. Those options very well could end up worthless.

[hughw → mattlong]

I imagine many of them hedged with options on the open market.

[edit] I just learned below that that market just opened, so that strategy must not have been available to them.

[zeroonetwothree → hughw]

Employees are not allowed to trade in FB options.

[jquery → zeroonetwothree]

Hedging Zynga options should work almost as well.