I think the desire by large institutions to reduce their holdings and bank their equity profits is real.
I got a assigned on some MMC 35 short PUTs this morning. I got very few short PUTs out there remaining because this is 3rd stock to get assigned in last 4-5 weeks (more then last 2-3 years combined). Hard to believe there is a lot of upside out there.
I think we are going to get pushed off the S&P 1275 ledge pretty soon.
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