There is some interesting News on the financial front in recent weeks revolving around a potential loss of near $1,000,000,000 (1 Billion) in Put Options placed by an individual or group of individuals.
If this is indeed a gamble a person/persons are putting a up a tremendous amount of money that the S&P 500 will plunge by half. This gamble has a payoff in the neighborhood of $4,500,000,000 (4.5 billion). Is there inside information about an impending terror attack? Or, does somebody know something about China possibly making a play to devalue the dollar? We will have to wait and see as these put options expire on September 21st, 2007. More From the Canadian freepress and a possible explanation as to the trades: Dispelling the 'Bin Laden Options Trades (let's hope the latter is correct!!)
More here and a short video from thestreet.com senior columnist Steve Smith:
