This is why the options market is so fun to watch. Whether someone knew about (or caused) the filing or not, there was definitely a trade set up in the works and an institution could have doubled $3 million+ in a single day (given the 212k volume today).
On my previous post I singled out a few blocks that traded at 0.15 on the UUP November $23 strike. Today, 212,000 contracts closed at 0.30! The ETF itself spiked to an intra-day high of $23.15 before closing at $22.86 on record volume. A spike was warranted after UUP violated the 8 month downtrend and 50 day moving average on strong volume, which could confirm a reversal if it sticks. US Dollar Index technicals are worse than $UUP's. It is below the 50dma and 8 month downtrend. We will see who follows who going forward. Also, UUP implied volatility is trending higher at 17 vs. 10 historical vol at ISE.com. The monster call volume + trading halt/8-K filing (to issue 100 million more shares) really makes Dvol wonder who the 性交 was behind this trade, and the underlying nature. I'll be watching UUP, USDX and SPY going forward. Charts below are UUP and US Dollar Index.
The 6am London Cut
50 minutes ago