The conspiracy nut jobs are out in force this week and they’re all saying that a “Bin Laden” option’s trade was placed. According one site (they won’t get my link), they claim someone sold 61,730 September SPX Calls at strike 700 because this person or people know that there will be another terror attack on the US before Sept 21 (option’s expiration).
What they fail to tell you is that 61,740 September SPX Puts at strike 1700 were also bought (I assume bought) [via CBOE]. I’m no option’s expert but this looks like some sort of spread that a large institution is using to move money around.
I guess we’ll have to wait till September 21st to see who was right and who was the dumbass.
Related: More Investors Are Betting on Major Selloff in Stocks
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