JPM options expiry?

[Cebu_4_2]

I really don't have a clue what was said in regards, silver closes under 36 by Sept 30 JPM goes down.

Can someone help me understand how what and why?

[Large Sarge]

I think Magnes can offer some insight.

I am not sure if it just closing out a position (electronic entry), or if it is option expiry? (Which is weds I believe, 9/28)

anyway, J.P. Morgan had 400 million ounces in short positions, that were going to explode, if they could not get silver under $36 to close them out...

that is my take on it....

[Serpo]

JPM has some derivative exposure in Silver that is times 8 with silver over 36$.

So with silver over that amount JPM loses magnify.

[gunDriller]

Sept. 27 Comex October gold options expiry
Sept. 27 Comex October copper options expiry
Sept. 28 Comex October miNY gold futures last trading day
Sept. 28 Comex September gold futures last trading day
Sept. 28 Comex September copper futures last trading day
Sept. 28 Comex September silver futures last trading day
Sept. 28 Comex October E-mini gold futures last trading day
Sept. 28 Comex October E-mini copper futures last trading day
Sept. 28 Comex October E-mini silver futures last trading day
Sept. 28 Nymex September palladium futures last trading day

from
http://gold-silver.us/forum/showthread.php?29390-Metals-Calendar-Futures-Options-Dates/page2

[MNeagle]

noob ? here. When something expires say on 9/27, is that expiration the end of Wall Street trading day? Or the beginning of that day/morning?

[Cebu_4_2]

I traded for years but never colleged options, puts, calls. Chad mentioned JPM going down with silver closing below 36, we are well below this. In my small simple mind I see it as a great day for JPM. This is whey I am confused, I really dont want to study options, leverages etc just want this to make sense for now. Sucks when my son reads it and asks me what it means and I draw a blank.