The overnight limits are about 5%. The RTH are about 10%. So at open it "opens" back up. Edit: I say "about" because the moves are calculated from the big spoos closing numbers. FYI. things like SSO are still available. Edit 3: For example SSO is trading at a premium to the ES. This is going to get interesting.
I can't believe this. The market is going to wipe out most of my profits with this move (for the year I expect). I've written a bunch of Sept calls and started writting Oct calls as I thought Sept calls were toast. now I'm going to get hit on both of them... So much for stabilizing the market A 150 pt move in 24 hours is stabilizing? And going higher
shorted naked calls? ouch sorry man! checkout the options section, there are some very good discussion around the risk/reward on it.
I'm relatively new in trading es, abt 2 yrs now. I think this is the 1st time i've seen this happen though i've read about it. whats SPAN margins by the way?
This is truly unprecedented. I feel for you. At least the implied vol will drop considerably depending on what strikes you wrote