Ok, who knew in advance of the UUP "dislocation" from this news:
Creations of new shares in the fund are temporarily suspended pending clearance of the registration statement by the SEC, the Financial Industry Regulatory Authority and the National Futures Association and declaration of the effectiveness of the registration statement.
SOMEONE came after the front month (November) $23 CALLs yesterday, with the underlying trading in the mid 22s. For 10-15 cents. Some 300,000 of them were bought yesterday.
They just spiked on the re-open for more than a clean double after UUP's halt and some 60,000 of those contracts have, in the last few minutes, been sold. The "nutso premium" has since relaxed and is now "only" a clean double from yesterday's 10 cent close.
You don't think they expected this to happen, do you?
You tell me what that looks like, and let me know when the responsible party for those CALL buys (they were happening yesterday in blocks of 10,000 at a shot - that's institutional) is identified and we see an investigation of what looks like blatant insider trading.
CNBC just asked "is insider trading literally everywhere" on air.
The answer, as I have repeatedly chronicled here in The Ticker, appears to be "Yep!"
