July 18. I don’t know, I think it’s C-O-O
–In the new world of the 20 minute news cycle, Turkey had a coup on Friday, now forgotten as it failed. In an amusing sidenote cited by the Daily Shot, google searches for “coup” jumped on Friday, but so did searches for “coo”. That’s right kids….sound it out. In the US there was another deadly attack on police officers in Baton Rouge. In Cleveland naked women protested the beginning of the Republican convention, which I personally prefer as a means of demonstration, (within reason) though there are risks that it could be taken up a notch.
–For the first time in a while I heard that some midcurve puts were abandoned Friday. EDU8 settled 9886.5, meaning 2EN 9887.5 puts were auto exercised, but an immediate rally on the start of the Turkish coup attempt sent futures higher to 9889 and caused abandonment. I am not sure of quantity, but interesting in terms of expiration risks.
