Worth Reading

http://www.moneymorning.com/2007/08/29/this-900-million-bet-has-global-traders-talking%e2%80%a6/

Interesting article on that trade, Red. Whoever's on the sell side of the calls would benefit from any price shock to the downside from now thru 3rd Monday in Sept. [enter conspiracy theory of choice here]. The person(s) or fund(s) (or government(s) etc.) could simply "trade around" the position with SP futures in the meantime if mkt range trades or moves up, meanwhile sucking the premium out all the while. I think the person on the buy side of the calls is a guy named Bob who lives in the same RV park as me and just hit it big with a lotto scratch off ticket. Actually, I think whatever it is ... it's a non event most likely. But, I will be trading with my tin foil hat on until Sept Expiry. "It's the end of the world as we know it, and I feel fine." R.E.M.

Whoops he entered his account number in the quantity box LOL I was trading in the YM years ago when it was brand new, and low volume, day before july 4th, and someone did that (although I didn't know it at the time). it was latter confirmed. sent the YM market rocketing it was like 300points in a few seconds, I'll never forget that chart pattern even moved the ES and big S&P which moved the cash big time. I'll see if I can find it online at S&C date and facts and all....

Is HUGO involved in this? ;)

quote:

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Originally posted by redsixspeed

Is HUGO involved in this? ;)

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Now THAT's funny!!!