VIX is up to 36, near panic levels.
Put/Call closed yesterday over 2, indicating heavy put volume activity.
Since VIX rose from 30 to 36, we can presume that these are new put options that were purchased. We will see what happens to open interest to see if they were people buying back puts sold.
After reading that PRIME BROKERAGE accounts at Lehman are frozen, it struck me that this was an extremely dangerous situation as that would exacerbate liquidity in the markets, preventing hedge funds (which are the owners of Prime Brokerage accounts mostly) from trading in the markets.
This means we have to have wider than normal stops as the market will move to more of an extreme before exhausting orders.
After 1 hour, raise stop to breakeven and reverse on that stop from the Long position mentioned at 9:30AM today.
9:36AM now, Eastern Std Time
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