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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (92294)1/3/2009 11:45:48 AM
From: ajtj99  Read Replies (1) of 116555
 
Mish, my other thought was, why the SPY? The commission on the SPY trade would be 10-times the commission on a SPX big contract trade.

If you're good enough to do a big trade like that, you're good enough to know the big contract is just as liquid as the SPY when you're dealing in size.

There were 9202 contracts traded on the Dec. 2010 SPX 500 puts yesterday as well.

148,000 contracts on the SPY is huge, but 14,800 contracts on the SPX big contract is not that terribly unusual, and that's what the SPY trade would be if it were done on the SPX big contract.

The more I look at this the more it looks like someone goofed in the execution of a trade at a brokerage or a hedge fund. I suspect they wanted Dec. 2010 SPX 500 and somehow SPY 55 was done and had to be unwound. There's no way to know, however.
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