Anyone notice that spike around 11:11 am today? Going back on the T&S it looks like someone fat fingered a buy of approx 10,000 contracts at the mkt. (of course i was short at the time)
You probably mean June. Its wasn't a crazy spike. Was just wondering if some piece of news came out at that moment. It looks like someone just put in a market order for about 10k contracts instead of working the order. I only noticed it cause I happen to be short at the time.
yes, somebody pounded out some size 10:11:50 1669 105-28 10:11:50 3202 105-27+ 10:11:50 3404 105-27 10:11:50 1725 105-26+
wow, if you add all those up, its 10,000 contracts. I guess it doesn't take that much to be a trader at an institution these days. He probably costed his bosses around 100 thousand dollars cause of his sloppiness. I guess thats chump change nowadays.
Whether he was covering or initiating a new position is not the point. If you go back on the charts, there was no reason to send a market order TO BUY instead of working the order to achieve the best possible price. He unnecessarily panicked and got the worst possible price for his order. He could have saved at least 100,000 if he used his "brain."