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Only $3 per share for a 1 year borrow ? That's nothing on a daily or weekly basis.

Borrowing shares to short will be tough. Another idea is to short a proxy stock...like linkedIn or Zynga or Groupon.

This is total B.S. I can't believe the Nasdaq came up with this remedy to make up for their crapware that was poorly designed and poorly tested.

When that occurs, the software just starts slow the flow of orders that's all as it drops the ASK price in a very controlled and methodical way. It does not match orders without sending the fill confirmations (that is what happened). It keeps all cancellations LOWEST Priority....and ignores them...

Well here was an opportunity for the Nasdaq to use this new matching engine, specifically developed for IPO's, and they just blew it off. They could have imposed this cancellation limit within their software easily. 100 quotes ? I would have made it 10 at most. Shear stupidity at play here by...

Polish ? Wow....interesting look.

You indicating that Nasdaq "faked" the whole software problem ? Hard to believe. Once again, just like BATS, the software should have gone into into contingency mode when order flow is one-sided.

Is she from India ? She looks it !

Well finally this indicates CANCELS or CANCEL AND REPLACE orders must cost something. Cancel orders swamping the queue ? This is ridiculous.

Funny. But what should be investigated is how did all of those lawyers convince lawmakers there was a shortage of American IT personnel ? Just has to be the biggest lie in history.

"Just the facts, Ma'am". Oh, and you'd have to hold a gun to the head of the CIO to get him to admit to this. Corporations love to hide their "dirty laundry".

Something similar occured at the BATS exchange. THIS ALSO WAS A DESIGN ISSUE likely caused by outsourcing. Bottomline: You can't hire an army of gorillas to design a better system that could be designed by a handful of really smart people...i.e. Americans. But it's all about keeping payroll...

http://www.interactivebrokers.com/en/p.php?f=commission&p=o Sorry, can someone explain how this premium gets calculated ? Is that a fraction/percent of underlying or what ?

Leaf - be careful...this is an ELECTION YEAR...all past relationships are now overridden by this event. QE3 will definitely be in place by September. In the mean time, TBT going to all time lows. Buy later.

Better call. Omigosh, talk about a pair......

I figured that it would go down some in an equity swoon. Never thought it would go down this much and this fast. The "risk-off" trade is on.....soon, the banks will be lending at zero percent !!! Can this get any crazier or what ?

Well, that may be true, but you don't have to be open to unlimited loss exposure like Vic Niederhoffer. Always have a leg that provides a stop-loss.

Com- Thanks for that tidbit....appreciate it.

Nice return Richard !...thanks for that. I'm considering putting on Butterflys or Condors on the short side. I wonder what kind of margin requirement Interactive will require for these positions.

There are some experts out there touting the strategy of selling premium on the weeklies. I don't know much about them...care to elaborate on your experience with them ?