Steve, I was sure that's what I heard, but I've been searching all over for news on this and can't find it. Wonder if he was mis-informed...that would be Monday.
Regarding options, awaiting a definitive decision from OCC, but I suspect they'll trade against some kind of index of the baby bras or ir not all listed at once, a combination of the baby bras and the stub. Wouldn't worry too much about that Steve, we've got much larger problems. OCC assured me back in February that any solution arrived at *must* be fair and equitable to all parties. The couple times I've looked, TBH options seem to trade with less premiums than TBR, so that would not be a solution. Most, if not all of the new listings will likely not be eligible for options initially, so 12 sets of options seems out, leaving an index as just about the only viable solution I can think of.
If Pisoni is right, could be a nice rally tomorrow. The ideal situation for the big guys...wash out almost all the August long call buyers, and all the put buyers of the last few days all at the same time.
sf |
