On Sep 18, 2007, at 9:55 AM, Taylor J. Smith wrote:
On Sep 17, 2007, at 11:09 AM, Taylor J. Smith wrote:
By what time on 9-21-07 must the Short Seller deliver the stock?
Horace Heffner wrote:
It depends on the exchange on which it was written and traded. You
may be referring to FTSE (London) options, which would (I think)
expire late Friday morning EST. For the US see:
http://www.writingputs.com/expiration.htm
Hi Horace,
From that website, it appears the market has to tank
before 4 pm EST on Friday.
As I understand it the spread will likely be rolled forward, so there
is no date certain time limit. As I read the article, the spread is
part of an overall strategy, not a bet on an imminent attack or other
event, like a bank run:
http://snipurl.com/1qcvn
http://www.thestreet.com/s/terror-trade-street-abuzz-with-bin-laden-
options-trades/newsanalysis/optionsfutures/10377063.html
"Currently there are about 63,000 700/1700 boxes open. Perper expects
that once the September options expire, you will see similar boxes
established in the December series. As to why the September 700 put
has over 116,000 contracts open, Perper thinks a good portion of that
was created from the prior rollover when April options expired."
With US carrier groups concentrated around Iran, this is
a rare opportunity for the Chinese to do a lightning
occupation of Taiwan. It looks like they have the
necessary ability to disrupt US communications.
Why would they want to start a thermonuclear war when they are
beating the pants off us economically? In another 20 years, the way
change is unfolding in China, Taiwan may even want to join the fold.
I expect how Hong Kong is treated will play a major role in all that.
Horace Heffner
http://www.mtaonline.net/~hheffner/
