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Update

172 bln out of 206 bln = 83.5%; on wed 3/7, i felt like they had 60 something in the bag and obviously the inside track worked given who had gotten ltro balance sheet cash; isda now rules ok to credit event and cds auction to keep facade up

so, the pre-wire worked, the Tuesday dip got to intraday 33 points and I covered some calls with guaranteed profit longs for short term exercise, bought to close several calls, covered some shorts and bought some longs

my original monday thought that the dip would occur happened and the buying intensity was more than i had considered

combination of bls data cooked a little less flagrantly and current market status i think leaves fomc continuing with words and will wait until april for ot2 (with 'sterilization'?)

next wednesday we should drop some; ppt will have little work on monday or tuesday

the only naked call is the cmg 365 which i will lose noticeable money on

the iran rhetoric will back off in order to moderate the gasoline price impact; TPTB does not want $4 nationwide pre-election

no need to sell any oils because they will skyrocket at some point but should plan on closing all jan13 sold calls with the dip