Yep, can't forget that too, about 90,000 Sep 112 calls still open, paper has bought 5,000 or so today, and still bid. Options locals short most of these calls. Just bought a bunch more.
Notes just got hammered, size paper seller on screen, nearly 10k plus from 25 down to 22. Now paper buying some October puts, japenese account, 10k bought. Thin to the downside, failed to take out upside stops. Lot of guys just got caught with pants down.
I agree with you mcurto..its not manipulation. I stood behind the Morgan desk at the merc for about two years (S&P). They would constantly try and push the market through a major support or resistance. I was very good friends with the paper fillers and they saw the same shit. Its not manipulation. Jim
Very strong buying on the screen T-note from the open, who's buying in the pit? I hear there is a speculative bid in oil awaiting news on whether "loop" is online after the storm, 8% of us refining capability
Off-topic for bonds, but if LOOP goes offline, wouldn't it necessarily REDUCE oil imports into the US (create a bottleneck). Freeing this spare production to the rest of the world market? Although LOOP going offline could give BigOil a pretext to increase price of end products (gasoline, heating oil) WITHIN the US, on supposed "shortage", despite US stockpiles being @ 7yr HIGHS.
Local bid all this morning. Brumfield's guys in the pit very quiet, but didn't look worried we had a strong bid. The way he was pulling offers on way up also makes me think he was a good buyer early, as oil got bid. Some locals taking profits up here. Goldman selling some Dec 10-years outright at the highs, no paper willing to sell Sep at these levels, afraid to get squeezed out.
Mcurto, What's the skinny for Sept? Any indication/suggestion/opinion/indication (wait, I said that already) that 10-yr will be due to sell off again as soon as Sept goes off the board? What are the arguments or evidence? (If this is outside your game, apologies in advance. And yes, we've noted you have a squawk product - duly noted.)