Delta hedging into OPEX ?

Possible ? Why not. There is plenty of in the money puts, and if they can't take it up they'll take it down. C'mon bulls, lets panic already ! We can do 50-60 points in the next 2 days on SPX. The way its looking now, its going to gap down under the August low, that should generate some activity. Thats gotta trigger some of those fancy market pushing programms.

Possible ? Why not.

There is plenty of in the money puts, and if they can't take it up they'll take it down.

C'mon bulls, lets panic already ! We can do 50-60 points in the next 2 days on SPX. The way its looking now, its going to gap down under the August low, that should generate some activity. Thats gotta trigger some of those fancy market pushing programms.

I'm in the opposite camp. I'm long ES puts so I've been buying futures. Keep in mind that for every short put needing to sell more deltas, there's a coresponding long put getting short more deltas than he'd like to carry.

Tonights lows are very decent ST support. I doubt tomorrow is the crash/capitulation. 3 straight CPI's have resulted in big selloffs. I won't be surprised if a cooling consumer hasn't caused some heaviness in pricing at the retail level. Deflation is now good. At least for a day. Plus measurement support is here. Just for now. I favored a crash on opex but I know how many times the market tanks into mid week opex only to rally into Friday.

Edited by Pabst, 15 January 2008 - 08:52 PM.