someone bought 10k contracts on every strike.

Ameritrade shows the action but the open interest is still low. Is that updated on an end of day basis?

WTF?????

But I think you meant Sept.

Someone looking for some bag holders?

The ask sizes were pretty high so maybe someone wrote a ton of new calls and hit the bids to finance something (buying puts on financials?)

Yeah they are Septs hmmmmm? Someone knows something. What do you think it cost to put on that trade?

Wow - My coworker thinks it's a computer glitch and a quant fund is exposed.

OK...I'm lost here, will some one clue me in...my chain shows no aug anything and no calls being offered in the $60-$90 range. Does not make sense to me.

That's gotta be a bad print.

If its not, someone is either going to be richer than Midas or more broke than Jesus.

This is hugely bearish I think, the writer must be really confident they won't be assigned or can buy them back much cheaper.

If its accurate its either a mistake (5k put on, 5k taken right back off) or someone has just placed a HUGE bet on a crash.

There was price movement so I think there were actual transactions that went through..

meant sept.

We'll see if any of it "sticks" in the morning.

If not it was a ****up - a very, very expensive ****up.

$768 million...am I calculating this right?

Let's just say that if it was a mistake the spread + clearing costs on that are going to hurt like hell, and that assumes it was nearly-instant in-and-out.

If they caught a price move the wrong way at the same time, "aw ****" would be the appropriate response.

If this sticks, someone's into this for a LOT of ****ing money. If the bad goes bad, on the other hand, they're dead. Very dead.

Anyone want to guess that any bad news, ie bank or investment house puking would be followed by an immediate 50 bps Fed funds rate cut?

These pricks will support this market to the very bitter end...

It looks like the trades were done at the ASK price. Doesn't that suggest that someone was buying. If you look, the Ask price has been set at $0.10 below the trade price for the 10K options in every strike except 85 and 89

That suggests that this may have been an ACCIDENTAL SHORT SALE that was bought back - if so, whoever did it is going to have a sore ******* when their trades settle.

You will not know until O/I settles up overnight.

I think Ben is scared to death to lower rates. If nothing happens or if market drops, what does he do now. Plus you have Santelli ready to tell you this AIN'T Goldilocks and the 10 year rate just went through the roof even if the market rallies briefly. I think BOB would be a more appropriate name for Ben...

Bend Over Ben!

Yes someone bought at the ask. Someone is playing a rate cut.

Why in gods name would you buy so many deep ITM index options?

I don't understand this trade.

If you think the market is going to make a big move (in either direction) wouldn't it be much cheaper/better to buy OTM options?

But isn't something similar happen to CFC about a week before Aug opex too? Maybe it is just a hedge by someone who has heard something?

No ****ing way.

It makes absolutely no sense to put that trade on that way.

My money is on an accidental short sale that had to be bought back immediately (at a huge loss due to the spread blowout)

Don't believe for a minute that those will stick - but DO check it in the morning.

40 cent spread alone to put on and take off would run 4.8 mil...ouch!