Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (82070)	7/25/2008 6:55:28 PM
From: ajtj99	Read Replies (4) of 116555

Huge action again today in WM options. It looks like a lot of straddles are in play as well. The option action in the brokerage firms is really getting interesting. Roubini must have scared some folks this week. There are now $2.50, $5.00, and $7.50 strikes on MER Jan. 09 options. Oct. 2008 has $5.00 and $7.50 strikes. So does Aug. 08. It's interesting they'd open a $2.50 strike for MER. That's the stuff they did for BSC, but it was front month stuff. LEH has $2.50 strikes as well in August 08, Oct. 08, and Jan. 09. MS has $5.00 strikes for Oct 2008 and Jan. 2009. GS has $10.00 strikes for Jan. 2009, but nothing below $70 for Oct. and nothing below $140 for Sept. It has $120 strikes for August. SCHW, trading around $22, has no strikes below $10.00 in any option series all through Jan. 2010 leaps. Are the strikes being opened to siphon money from reckless speculators, or is there a tornado ready to blow through Wall Street?

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