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What 6,932 Busted Option Trades In 13 Minutes Looks Like
The only question we have about the following list of 6,932 busted option trades comprising 34,484 call and put (mostly call of course) contracts on the NYSE ARCA Options which took place this morning at the market open until just 13 minutes later "due to an internal system issue", is whether Goldman is the party that somehow benefited from the DKing of these millions of trades as it did back in August of 2013.
And while we won't know for sure, here is what happened first thing this morning.
This is the email sent out by NYSE ARCA:
"NYSE Arca Options, on its own motion and in accordance with Rule 6.89 (Erroneous Trades due to System Disruptions and Malfunctions) of the Exchange, will be busting numerous executions which occurred this morning, Tuesday, April 29, 2014, due to an internal system issue."
How numerous? The screengrab below shows 30 of the busted option trades.
For the full Excel list, which shows another 230 pages like the one above, click here.
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Dk dp
If you're too slow to front run, you just need to get the trades DK.
technically, getting assfucked does qualify as an "internal system issue"
But Mary Jo White, official SEC Spewer, said the markets aren't rigged?
AMZN and QQQ; sheesh.
P/E says what?
- AMZN
It's the morning pop list. SSDD
Straight up at the open, left over from yesterday's afternoon ramp. If they don't kill that, then all of a sudden, Flash Boy's, is back on the front page..
Your trade is not welcome here. Move along.
- Stasi Trading Corp, aka NYSE
In slot machine parlance : 'Machine malfunction voids all plays' . You DO remember this is a rigged casino and it is Tuesday, yes ?
Lots off busted calls in pharma and bio tech..... interesting.
Was this to avoid red on a Tuesday?
I'm more inclined to think it was somebody changed their mind on an insider bet. ACAD and THRX had some huge calls busted. It's a little weird that somebody would bust call trades of that size when the stocks are up. It seems to me if they owned them before the move they could have got some appreciation on the contracts by just selling. Of course I'm just speculating, maybe it's just a fat finger.
If I look at ACAD options somebody opened up 907 june 30s calls and 907 june 32s calls. The stock closed at $19.91 Somebody else opened up 1000 in the money May 34 THRX puts with the stock closing at $27.11. I'll be watching both these trades.
THE MARKET IS NOT RIGGED, SO SAYS THE SEC.
NOW, IT MAY BE GAMED. IT MAY BE MANIPULATED. BUT IT IS DEFINITELY NOT RIGGED.
YOU CAN HAVE COMPLETE FAITH THAT THE SEC IS DOING IT'S JOB (OF ENSURING THE STATUS QUO)
You can call me Ray, or you can call me Jay but you don't have to call me rigged.
Cue that Futurama clip (anyone? I'm late for work) : "I didn't know _ was rigged like wrestling. I thought it was fixed - like boxing."
rigging like in roping the sails?
Oh well, the bitcoin exchanges had the same thing a while back....
just before...
Those aren't the trades you're looking for.
You can go about your business.
Move along.
They didn't bust my short puts in the ES, in fact they scooped em right up.
Jokes on them though, the chance of those ESM4 1850 puts expiring ITM may be around 40% per the math but in reality the chance of the S&P trading below 1850 in the next 50 days is zero. Suckers.
Thanks Janet!
were these mispriced or just some program run amok?
they need to bust all those TWTR trades placed at much higher prices before the close since everyone knew they would just BLOW!!!!! the socks off the number.
nyuk nyuk nyuk nyuk nyuk
You should try to obtain a few facts before you launch the snark. I had 3 GTC open option limit orders that were filled on the bid side at the open, way below the offer limit prices. Clearly erroneous trades since they were partial fills - only the buyer would have benefited unless the trades were quite properly DKed.