you are viewing a single comment's thread.
Good point Ephort.I was thinking of Sept's exdiv, forgot that these Aug's expire next week.Yep, a nice smokescreen.
Except it's a lousy smokescreen. Bet $5 million on the drop and only $40K on the rise? That's no balanced view.
"That's no balanced view".Yes of course, in substance, as I also said.But if it came to a challenge, the lawyers could claim that a straddle is a neutral position according to all the textbooks. That should impress a jury, no?
I figured out who put the trade on. It seems the "London Whale" put this position on the day he got word he was being terminated by Jamie Diamon.
So are you all thinking a planned attack by some legitimate overseas entity or a form of financial terrorism a la Iran et all?