Good point... the real question... what's the short interest of of the underlying. I tend to agree that the financials will outperform the SPX over the next couple of days, but I'm not about to buy.
Do you think we that stupid? Looking at the table I see that people are saying that GS is bluffing. Code: Name Symbol Weight Short Interes CITIGROUP INC C 8.82% 0.6% BK OF AMERICA CP BAC 8.55% 0.8% AMER INTL GROUP INC AIG 6.51% 0.9% JP MORGAN CHASE CO JPM 5.78% 0.9% WELLS FARGO & CO NEW WFC 4.63% 1.2% WACHOVIA CP WB 3.56% 1.4% GOLDMAN SACHS GRP GS 2.73% 3.1% AMER EXPRESS INC AXP 2.65% 1.8% MORGAN STANLEY MS 2.50% 1.2% ML CO CMN STK MER 2.43% 2.2%
another financial etf is BTO ... more banks though. http://www.profitquotes.com/commodities-quotes.mpl?a=detailed&ticker=bto the yield is better than stated though, as they have a managed distribution of 2.5% per quarter. the yield is based on the distribution and not the long term gains. http://www.etfconnect.com/select/fundpages/sectors.asp?MFID=11855
I think the q"s will rally before friday and leave all the puts worthless, support down there around 48.00 47.86,