Great little trade - anybody take it?

teflon142

Member
65 10
I don't come here much anymore, and I'm in a totally different line of work now, so only check on the mkts every now and again. Today I found myself at a bit of a loose end so I logged in to see what was what.

While I was havin' a gander, a fantastic little trade appeared and I wondered if anyone took it?

At about 2:30, Visa spiked hard on the back of a court ruling on debit card fees (no cap, iirc). Visa is (had to look) over 8.5% of the Dow (a ****ty little index if ever there was one), and so obviously that went bid too.

So the trade was dead simple - short DOW long SP500.

Half an hour later the move had retraced and you could cash in.

So, did anybody take it?
 

teflon142

Member
65 10
At what ratio?

Well, I didn't take it, but my immediate thought was to do it at dollar amounts, which iirc worked out at 8:9

** This was using SPY and DIA. Couldn't be f*****d to think about the futs so just did it this way
 
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