I haven't seen this much hedging since my Brazilian wax!
Heads up Minyans--
Someone bought 4000 S&P January 1050 puts which, as a function of the dealer hedge, created 450 S&P futures for sale. Thus far, the market is absorbing that supply. Just an fyi...
Also, while I have you, Wal-Mart (WMT:NYSE) was another one of those "it ain't acting right early" stocks (was flat with futes jiggy) and that's drawn my eyes to the retail group.
I'll be back.
Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at firstname.lastname@example.org.
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