someobody sold 70,000 contracts,,who are the the morons who bougth the 70,000 contracts? these HFT pull their bids. 70,000 is more likely wash trades. phantom imaginary trades..
You don't even know how to use Google http://www.waddell.com/ "Founded in 1937, Waddell & Reed is among the most enduring asset management and financial planning firms in the nation, providing proven investment and planning services to individuals and institutional investors."
I had a friend working for them in Europe, it seems they're doing ok, even in 2007-2008. (never checked, though)
So I was correct that the FLASH CRASH did start with a Fat Figure Trade: Except the trader entering the large order believes the market could handle that entire contract but it did not.