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The panel's chairwoman, Elizabeth Warren, said that with the program's Oct. 3 expiration approaching, "this panel must know whether Treasury has carefully monitored the financial system to measure potential risks".
Later, with expiration approaching and the stock above the strike (this is a good thing), the put is selling for a much lower price.
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As so many investors fear during options expiration week, the markets experienced increased volatility last week as November option expiration approached.
But this time around, investors were already scooping up downside protection in the form of puts as August expiration approached.
In the February and April series, put open interest is notable at the near-the-money 65 strike, and could provide structural support as expiration approaches.
Furthermore, stocks trading in the money have a tendency to be drawn back to strikes with significant levels of open interest as expiration approaches.
Under "normal" market circumstances, the declining delta of these puts as expiration approaches leads to natural short-covering demand, which would argue for an increased frequency of "up" expiration weeks.
I don't believe there's some magical expiration date approaching, by which time she and I need to somehow do, or say, or pray just the right things to get them to "turn straight", or forever lose them to the other side.
The only problem is that, although Bristol has been putting together an impressive pipeline, it's facing a period in which it can't promise investors much growth: Patent expirations are approaching on Glucophage, a diabetes treatment with more than $1 billion in sales; BuSpar, an anti-anxiety drug that was once a blockbuster; and its famous cancer drug, Taxol.
Economists said the data released on Monday suggested that buyers were re-entering the market as the expiration deadline approached for a government tax credit.
But, as the expiration date approached, Cisco's stock was nowhere near $15.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com