What a rip. I wonder how many folks just blew up? From 1.26 to 1.15...that's $11k USD per lot in 2 minutes! No apparent news either.
http://www.cnbc.com/2016/10/06/british-pound-sterling-crashes-to-fresh-three-decade-low.html http://www.bloomberg.com/news/artic...1-percent-in-biggest-drop-since-brexit-result
I hear a European bank was a big seller... thin market though, maybe a bit too eager? Vols aren't doing anything, indices hardly lower... meh...
How eager does a big seller have to be to trigger a 6% swing? You'd think they could've decided to spread it out over more than 2 minutes...
Was anyone on the right side of this trade? Able to exit at the extended levels? I had a short from 1.29 area but covered 1.2550, never in a million years would I have guessed 1.18s so rapidly. At least with BREXIT you knew, something monstrous could happen.
I wonder how many barriers were impacted by this. For the experts out there, how big of a market are the exotics?