Fed Changes Terms In Front of OpEx Again *(from KD's WEBSITE)
"This is a load of crap folks:
For release at 4:30 p.m. EDT
We just made sure that anyone who was long into Options Expiration - which is tomorrow - especially on index options which cannot be hedged or traded now, is screwed. Just like in August of 2007 when we did the opposite.
The Federal Reserve Board on Thursday announced that in light of continued improvement in financial market conditions it had unanimously approved several modifications to the terms of its discount window lending programs.
Of course we couldn't wait until Friday after the close when it wouldn't hose people - instead, we timed this for maximum pain."
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