4 seconds before the close, one super-bullish algorithm exuberantly bought a massive $200 million worth of the S&P 500 ETF up to a 2,130 level on the index in one second... and no - it was not a fat finger!! It was 1,147 trades! Now who do we know that is an 'expert' in ETF trading?
With 4 seconds to go in today's "market" day-session, this happened:
$SPY ex-div tomorrow - did it play a role? Will they bust those trades before options close. tick.tick.tick.— Eric Scott Hunsader (@nanexllc) December 18, 2014
But have no fear... those trades will be DK'd asap.
- NASDAQ ISSUES E-MAILED STATEMENT ON 'SPY' TRADES
- POTENTIALLY ERRONEOUS `SPY' TRANSACTIONS BEING PROBED
- TRANSACTIONS WERE EXECUTED BETWEEN 15:59:00-16:00:00 ET
Or maybe not: ALL TRADES IN 'SPY' WILL STAND
Probably because the Fed is willing to "eat" the losses rather than explain why it buys SPY, via Citadel, on DirectEdge.