So, I'm long a lot of puts on this one. http://www.elitetrader.com/vb/showthread.php?s=&threadid=202606&highlight=validus Seems to be selling off nicely into the close. Combined ratio of 134.3% last quarter. Bad results from SwissRe and Zurich this morning. If you don't understand the last paragraph, please don't gamble on my word. I don't know what's going to happen--DYDD.