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Huge surges in purchases of put options on stocks of the two airlines used in the attack -- United Airlines and American Airlines
Surges in purchases of put options on stocks of reinsurance companies expected to pay out billions to cover losses from the attack -- Munich Re and the AXA Group
Surges in purchases of put options on stocks of financial services companies hurt by the attack -- Merrill Lynch & Co., and Morgan Stanley and Bank of America
Huge surge in purchases of call options of stock of a weapons manufacturer expected to gain from the attack -- Raytheon
Huge surges in purchases of 5-Year US Treasury Notes
An anonymous investor has placed a bet on an index of Europe's top 50 stocks falling by a third by the end of September, as world equity markets plunged for a third day and volatility hit a three-year high.
The mystery investor has bought put option contracts on the DJ Eurostoxx 50 index that will result in a profit if it plunges to 2,800 or below by the end of September. Based on the 2,800 strike price, the position covers a notional €6.9bn, and potentially even more using a market price of about 4,100 when the trades were done on Tuesday and Wednesday.
it is clear that the vicious, self-reinforcing, downward spiral we were worrying about is already firmly established."
the commercial paper market, in terms of the asset-backed commercial paper market, is basically history
China's currency regulator this week said it will let Chinese citizens with a Bank of China account in the northern city of Tianjin buy Hong Kong stocks for the first time, opening the gate for China's $2.2 trillion of household savings to flow offshore.
23 Aug 2007
An influential bond manager has called for the Bush administration to bail out US homeowners hit by the sub-prime mortgage fallout, rather than the Federal Reserve.
Let me suggest a non-tinfoil hat explanation for the $1.7B call selling. Let's say I'm a hedge/mutual fund facing $1.7B of customer redemptions. I need to raise some cash, but I'm so big I'm afraid of roaching the market by selling.