it will create the first bailout of the stock market. not only that, the trades that will canceled probably had a very good possibility of having options exercised against them, which means those options will need to be cancelled too.
Think of it this way. If I had 100 puts of the stock that were 30 dollars out of the money, which meant I bought them for say 50 cents each, or about 500.00 and now they were 30 dollars in the money because the stock went down, that suddenly means I would have a gain of 30.00 times 10,000 shares and I would be very perturbed if somebody told me that my 300,000 windfall had just got cancelled. ----- Original Message ----- From: "Pete Theisen" <[email protected]> To: "ProFox Email List" <[email protected]> Sent: Saturday, May 08, 2010 9:50 PM Subject: [OT] So Bob's dad is saved? > Hi Everybody, > > http://online.wsj.com/article/SB10001424052748704370704575227754131412596.html?mod=rss_com_mostcommentart > > or > > http://tinyurl.com/32zxeqh > > "Officials late in the day said any trades that were 60% away from the > market price at 2:40 p.m. would be canceled." Will that do it? > -- > Regards, > > Pete > http://pete-theisen.com/ > http://elect-pete-theisen.com/ > [excessive quoting removed by server] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/0e3b0d48d3ad4cd589ac6a65f08a4...@bierschw6ca469 ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
