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| User Info | URGENT!!! LOOK AT AUG SPY CALL ACTION FROM $65 - $90 in forum [NotSoBreakingPrice] | |||
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Fakemark Posts: 0 Incept: 2009-06-11 
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someone bought 10k contracts on every strike.
2007-08-22 13:09:22
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Rmonical Posts: 2155 Incept: 2007-07-04 
Omaha
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Ameritrade shows the action but the open interest is still low. Is that updated on an end of day basis?
---------- The truth is out there
2007-08-22 13:13:29
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Obseedian Posts: 8250 Incept: 2007-07-26
RIMM Central
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WTF????? But I think you meant Sept. ---------- Would you give your money to these banks? http://bankimplode.com/list/troubledbank.... Genitalia - Not just another Italian airline!
2007-08-22 13:13:44
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Bpmsu Posts: 403 Incept: 2007-07-12
MN
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Someone looking for some bag holders?
2007-08-22 13:19:02
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Obseedian Posts: 8250 Incept: 2007-07-26
RIMM Central
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The ask sizes were pretty high so maybe someone wrote a ton of new calls and hit the bids to finance something (buying puts on financials?) ---------- Would you give your money to these banks? http://bankimplode.com/list/troubledbank.... Genitalia - Not just another Italian airline!
2007-08-22 13:21:36
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4155 Posts: 1597 Incept: 2007-07-19 
USA
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Yeah they are Septs hmmmmm? Someone knows something. What do you think it cost to put on that trade?
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2007-08-22 13:25:52 by 4155
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Pcap Posts: 12511 Incept: 2007-08-16
Canada Online
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Wow - My coworker thinks it's a computer glitch and a quant fund is exposed.
---------- ``We know in a crisis the Federal Reserve tap would be open'' Former St. Louis Federal Reserve President William Poole Maximize the pain
2007-08-22 13:22:26
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Snooze Posts: 1652 Incept: 2007-07-09
florida
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OK...I'm lost here, will some one clue me in...my chain shows no aug anything and no calls being offered in the $60-$90 range. Does not make sense to me.
---------- We're on a journey - and we don't know it - back to a nation of communities where your character really matters, and where character rests on whether your deeds comport with truthfulness......KUNSTLER
2007-08-22 13:22:35
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Genesis Posts: 71403 Incept: 2007-06-26 
KD^2
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That's gotta be a bad print. If its not, someone is either going to be richer than Midas or more broke than Jesus. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2007-08-22 13:23:22
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Obseedian Posts: 8250 Incept: 2007-07-26
RIMM Central
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This is hugely bearish I think, the writer must be really confident they won't be assigned or can buy them back much cheaper. ---------- Would you give your money to these banks? http://bankimplode.com/list/troubledbank.... Genitalia - Not just another Italian airline!
2007-08-22 13:23:55
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Genesis Posts: 71403 Incept: 2007-06-26
KD^2
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If its accurate its either a mistake (5k put on, 5k taken right back off) or someone has just placed a HUGE bet on a crash. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2007-08-22 13:25:32
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Obseedian Posts: 8250 Incept: 2007-07-26
RIMM Central
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There was price movement so I think there were actual transactions that went through.. ---------- Would you give your money to these banks? http://bankimplode.com/list/troubledbank.... Genitalia - Not just another Italian airline!
2007-08-22 13:27:40
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Fakemark Posts: 0 Incept: 2009-06-11
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meant sept.
2007-08-22 13:27:53
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Genesis Posts: 71403 Incept: 2007-06-26
KD^2
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We'll see if any of it "sticks" in the morning. If not it was a ****up - a very, very expensive ****up. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2007-08-22 13:28:12
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Obseedian Posts: 8250 Incept: 2007-07-26
RIMM Central
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$768 million...am I calculating this right? ---------- Would you give your money to these banks? http://bankimplode.com/list/troubledbank.... Genitalia - Not just another Italian airline!
2007-08-22 13:34:45
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Genesis Posts: 71403 Incept: 2007-06-26
KD^2
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Let's just say that if it was a mistake the spread + clearing costs on that are going to hurt like hell, and that assumes it was nearly-instant in-and-out. If they caught a price move the wrong way at the same time, "aw ****" would be the appropriate response. If this sticks, someone's into this for a LOT of ****ing money. If the bad goes bad, on the other hand, they're dead. Very dead. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2007-08-22 13:36:31
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Otc_buzzard Posts: 655 Incept: 2007-07-13
Denver
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Anyone want to guess that any bad news, ie bank or investment house puking would be followed by an immediate 50 bps Fed funds rate cut? These pricks will support this market to the very bitter end... ---------- Wallstreet is a corrupt insiders game. When they ask for a bailout tell them to **** off!! --- Everything I post is JMHO, take it as such.
2007-08-22 13:39:18
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Gmak Posts: 10176 Incept: 2007-07-27
Re-inventing the future at the speed of time.
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It looks like the trades were done at the ASK price. Doesn't that suggest that someone was buying. If you look, the Ask price has been set at $0.10 below the trade price for the 10K options in every strike except 85 and 89
2007-08-22 13:45:40
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Genesis Posts: 71403 Incept: 2007-06-26
KD^2
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That suggests that this may have been an ACCIDENTAL SHORT SALE that was bought back - if so, whoever did it is going to have a sore ******* when their trades settle. You will not know until O/I settles up overnight. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me Last modified:
2007-08-22 13:48:03 by genesis
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Av8rphil Posts: 1817 Incept: 2007-06-26
Platte City, MO
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I think Ben is scared to death to lower rates. If nothing happens or if market drops, what does he do now. Plus you have Santelli ready to tell you this AIN'T Goldilocks and the 10 year rate just went through the roof even if the market rallies briefly. I think BOB would be a more appropriate name for Ben... Bend Over Ben! ---------- "Two things in life are infinite: the universe and human stupidity; and i'm not sure about the universe" -Einstein
2007-08-22 13:49:11
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4155 Posts: 1597 Incept: 2007-07-19
USA
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Yes someone bought at the ask. Someone is playing a rate cut.
2007-08-22 13:49:42
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Ocbear Posts: 1684 Incept: 2007-06-29
OC, CA Online
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Why in gods name would you buy so many deep ITM index options? I don't understand this trade. If you think the market is going to make a big move (in either direction) wouldn't it be much cheaper/better to buy OTM options?
2007-08-22 13:50:39
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Aeriswind Posts: 59 Incept: 2007-07-16
Seattle
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But isn't something similar happen to CFC about a week before Aug opex too? Maybe it is just a hedge by someone who has heard something?
2007-08-22 13:51:33
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Genesis Posts: 71403 Incept: 2007-06-26
KD^2
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No ****ing way. It makes absolutely no sense to put that trade on that way. My money is on an accidental short sale that had to be bought back immediately (at a huge loss due to the spread blowout) Don't believe for a minute that those will stick - but DO check it in the morning. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2007-08-22 13:53:15
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Av8rphil Posts: 1817 Incept: 2007-06-26
Platte City, MO
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40 cent spread alone to put on and take off would run 4.8 mil...ouch!
---------- "Two things in life are infinite: the universe and human stupidity; and i'm not sure about the universe" -Einstein
2007-08-22 14:03:22
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