Today is Sept Options Xpiry and it looks like the biggest mm telegraphed "peg" yesterday with the exact close at $2.50 was the big "tell" to the others boys to let her settle there today (or at least try and maintain - help not fight each other lol). MM's must have their big money on the $2.50 puts that they sold and want to expire worthless...
I was hoping the "tell" at the close of the tape yesterday was going to be steamrolled but alas... At this point it looks like $2.50 even will hold the day.
However, watch the flurry and volume of ZN buying at today's close - it could get be very very telling (possible big ZN update tonight with a crazy Monday opening... NOTE: the MM's have at least 12 hours of advance notice with their paid services and connections related to all upcoming updates subject to SEC disclosure rules)
Is it smart to be short over the weekend? Also, how many new traders are going to want to get in on a ZN position on the cheap provided gratis by the today's option Xpiry? The tape at today's close will be interesting to watch to say the least. I'll nibble a bit more if she stays under $3.50 for sure
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