smart money means inside information
Much has been written about the sale of Put Options against American Airlines prior to 911. That, is chump change when compared with the amount of money made with S&P Index Options as a result of the market collapse that followed 911. Volume in Index Options actually doubled in the months leading up to 911 from the previous year.
Now we have an even more dramatic scenario unfolding
http://www.moneyteachers.org/Index+Options+11-11-11.html
Much has been written about the sale of Put Options against American Airlines prior to 911. That, is chump change when compared with the amount of money made with S&P Index Options as a result of the market collapse that followed 911. Volume in Index Options actually doubled in the months leading up to 911 from the previous year.
Now we have an even more dramatic scenario unfolding
http://www.moneyteachers.org/Index+Options+11-11-11.html