The SPUZ are trading down $10.5 right now, I guess the culprit is a weak Nikkei which is dropping to the tune of 2.2%. Im buying some nasdaq futures to delta hedge my NDX puts - I guess down here I need to buy like 40 futures but Ive only bought 10 so far. A 2.2% move in the Nasdaq wouuld drop the futures by 35 points - not the 14 they are down right now. I will nibble and have bids in overnight. In the morning the permabidders will be lurking again - so I have to buy some here.
JB
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