Here is the definition of a Spaz – well some one undergoing some kind of road rage spasmodic episode a seizure if you will. We shall call the trading floor the main dining hall – like it or not those are the rules that prevail. Meals are to be consumed there as there are rules and decorum and so forth. Anyway there was an item on the menu that seemed pleasing to all the diners – the item was willing to have itself devoured for 5 units – well all the (choose a name) scramble to the item and commenced to devouring. One unsatisfied critter felt they deserved more than anyone else and immediately vomited up the item they consumed then tried to spoil the entire luncheon by continuing to vomit until the item was worth only 4 units. I hope you find this disgusting because it is – and if someone wants to explain to me what value these spasmodic episodes have in terms of price discovery feel free to enlighten.
If you don’t know what I’m talking about and would like an explanation I would be happy to explain.
Elsewhere price action is very much looking to switch to up – in terms of the moving averages I watch on a daily outlook – so will be looking to get long on pull backs starting today – you have to call for details.
Players list showing decent call selling and put buying as the underlying theme in ED option land. In 10’s some large packages just went off (bottom 2 on players) hedging against or playing for a move down. More later.
| 4/14/2011 | |||||
| New Edge | B | 1,500 | EDH 9800/9850 p spread | 4.5 | 9926/26.5 |
| Cube | B | 4,000 | EDU1 9950/9962 p spr vs 9975c | 1 | 9963/63.5 |
| Paper | S | 10,000 | EDZ 9837/9887 p spread | 2 | 9948 area |
| Paper | B | 5,000 | EDZ 9962 calls | 6.5 | 9948 |
| Above 2 trades executed as a package | |||||
| Paper | B | 5,000 | EOU 77/80 p spread vs. 90c | 4.5 | 9856/56.5 |
| New Edge | S | 10,000 | EDM 97/98 c 1X2 | 1 | 9970.5/71 |
| Paper | S | 1,250 | EDH 9875/9950 strangle | 25 | 9924 area |
| Paper | B | 5,000 | EDU1 9900/9950 p spread | 4 | 9962.5/63 |
| Paper | S | 5,000 | EDU 9962 strad | 16.5 and 16 | 9962.5/63 |
| Paper | B | 10,000 | EOU 9812/9837 p spread | 7.5 | 9853.53,5 |
| Paper | B | 3,000 | 2EK 9700/9725 p spread | 3 | 9760.5/61 |
| Fed Fund opts | |||||
| Paper | B | 1,000 | FFN/Q 9987 call calendar | 0.5 | 9986.5 + 84.5 |
| Paper | B | 1,000 | FFG 9937/9950/9962 p fly | 1.5 | 9962.563 |
| 10yr. Opts | |||||
| Paper | B | 6,100 | TYM117/119 p spread | 0.32 | ^11917.5 |
| Paper | B | 2,000 | TYM120c | 0.47 | 11917/18 |
| Mann | B | 500 | TYM116.5/117/118 p tree | 0.03 | 11917/17.5 |
| TJM | B | 1,500 | TY wk 3 (exp tomorrow) | 3 | 11920 area |
| Paper | B | 1,000 | TYK120c | 17.5 | ^11917.5 |
| Paper | B | 2,500 | TYM117/119 p spread | 0.29 | ^11924 |
| Paper | B | 2,000 | TYK120.5/tym122 p diagnol | 1.37 M over | N/A |
| RJO | B | 1,000 | TYK119p | 0.09 | 11924 |
| Mann | B | 2,500 | TYK120c | 0.17 | 11921.5/22 |
| Smith B | B | 1,000 | TYM121/122.5 c spread | 0.18 | 11920.5/21 |
| RJO | S | 2,000 | TYM 119.5 strad | 1.55 | 11919 |
| RJO | B | 2,500 | TYK119/120.5 strangle | 0.17 | ^11922 |
| JP Morg | S | 2,750 | TYM119/120 c spread | 0.33 | ^11916.5 |
| New Edge | S | 1,000 | TYK120/121.5/122/123.5 c condor | 0.12 | 11917/18 |
| RJO | S | 1,250 | TYM119.5 strad | 1.55 | 11918/19 |
| Merril | B | 750 | TYM118.5p | 0.34 | 11916/16.5 |
| Merril | S | 2,000 | TYK120/120.5 c 1x2 | 0.01 | 11918/18.5 |
| JP Morg | S | 1,500 | TYM117/121 strangle | 0.36 | 11918/18.5 |
| RJO | S | 500 | TUM 119/121 comvo | .19 put over | ^11918.5 |
| Paper | B | 1,000 | TYK120.5c | 0.05 | 11913.5/14 |
| Goldman | S | 12,000 | TYM119.5/121.5 c spread | vs see below | |
| Goldman | B | 8,000 | TYM118p | flat | ^11911 |
| New Edge | B | 20,000 | TYM117/117.5/118.5 p fly | 0.12 | 11910 area |
| 30yr. Opts | |||||
| Barclays | B | 3,000 | USK 119 puts | 0.18 | 11930 area |
| They have been buying puts and puking for loss last couple of sessions - …. | |||||
| 2yr. Opts | |||||
| paper | B | 2,700 | TUU 106.5 putsw | 4.5 and 5 | 10820.7 |
| An outraged local sold 4 | 4's on the screen because they were'nt served enough in the main dining hall- dork! | ||||
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