Monday, June 18, 2007


Last Friday was the quarterly expiration cycle known in the USA as "Triple Witching". Normally, the antics are contained to elevated intra-sector volatility, outsized last-hour moves (or pinning) into expiry. However this triple-witching cast a spell upon us, conjuring up a 5-digit P&L all composed of sixes. Hullo, Damien?

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