As of 12.30am , DJIA has lost ~360 points, largely contributed by Citigroup, AIG , etc. Options are nearing expiration Friday tommorow but the time premium is huge due to the violatility. GLD is moving up USD6 to USD83.
With the rate DJIA is falling, the FED needs to do something, and what better way to do it than announcing the good news during the weekend. If such thing happen , expect alot of put buyer and shorters getting a quick flashburn come next Monday. Since this Friday is expiration day, expect violatility to collapse abit and thus put buyers and shorters are in a double wammy situation. If that happen..FED are RUNNING OUT OF MAGIC BULLETS..
As for me, i exited my puts too early as usual only to see further drop in stock price. :(
Really heartburn...
To anyone that has alot of money in Citigroup bank, be prepare to take out the money ..just in case...!?
Good luck everybody
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