OldTrader, what do you think about all these developments? you've been around for a long time. are they going to change the trading game much or is it just a temporary interference that we will forget in a few days/weeks and it will be trading as usual?
Salvia Banning short selling gives the gov the time to find a realistic solution to the once in a lifetime situation. If the financial system stops then so does the economy. You can argue who is responsible but we need a rest, a break to find a proper solution....No more of these daily panic solutions. They need to get it right or a meltdown will happen....
GE went from 26.80 to 29 solely on CNBC reporting that it will be added to the no short list, along with other companies. Viva la revolution comrades.
what a fucking morning wild day on top of all the problems with IB. bought some atm nov straddle. dont like the iv, but my prediction is there is no way the price will stay at this level for long after such a wild move and all the shorts holding the bag. Will scalp the underlying a bit to offset the theta
Its all going to depend on settlement of the Sept contract. Lower would still help, definitely below 1275 and if we got down closer to 1250 I would still have about 50% of my profits for the year. Unfortunately I had to buy some December ES at 1265 in the premarket. I had rewritten October ES call options this week to partially hedge my long position. ES 1225C 31points ES 1200C 26points
Thanks. (Also to bigb) I downloaded the pdf document on sec.gov http://www.sec.gov/rules/other/2008/34-58592.pdf I also do some pair trading and I am long MER while short BLK. MER owns 49% of BLK. BLK is not on the banned short list.