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langostino

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langostino

Re: greenehugh post# 597632

Sunday, 09/14/2008 10:16:32 PM

Sunday, September 14, 2008 10:16:32 PM

Post# of 704019
The MER 25 calls

wouldn't have sufficed as protection for the heavy shorting going on all day Friday. They would have had to offset at the 17.50s, 19s or 20s to meaningfully protect.

As I said in the previous post, I suspect some of the hedgies pushing the short side were getting cocky near the end there, and probably weren't fully offset. To the extent that is true, they are going to get their faces ripped off.

Can't say I'm gonna feel too badly for them either.
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