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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: jimmg who wrote (62612)1/23/2007 2:35:04 PM
From: mishedlo  Read Replies (1) of 116555
 
Over 400,000 contracts in the March xlf put options all in out of the money puts. This kind of wild downside speculation is very unlikely to get rewarded.

Those puts are a BULLISH bet
hedged funds have been selling puts for income.
Selling puts and calls is driving volatility lower.

You are mistaking put buying for pessimism.
It is not.
Funds are selling puts believing that we will never get there.

Throw all your put call ratio assertions out the window.

They are useless.

Mish
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