Large number of Put Options for 10/6

I have no idea if this is bad news or not

Apparently there have been a large number of PUT OPTIONS taken out for 10/6/06. Basically, a PUT OPTION is when someone is betting that the stock or commodities market is going to go down. A PUT OPTION is a bet that there will be a drop in value for a specific stock, fund, or commodity (I think).

Why would there be a larger number of options taken out for that day, does somebody know something that the rest of us don't?





DIRECT LINK





(REPOST) PUTS FORECAST OCT. SURPRISE?

Monday, October 02, 2006 - FreeMarketNews.com

INITIAL POST 09.30.06

A faithful reader and commentator, "A. Magnus" writes the following email, posted to FMNN General Feedback:

"Do you like October suprises? Is there a big bang coming to hit the markets? If you believe that those in the know use insider information before major events then you might be interested on the HUGE number of October 6th put options for the big indexes. Check out the concentrated puts on the Diamonds DOW Trust (DIA):

https://fastquote.fidelity.com/webxpress/ia_optionchain_frameset.phtml?priced=Y&SID_VALUE_ID=DIA

Ditto for the S&P Depository Receipts (SPY):

https://fastquote.fidelity.com/webxpress/ia_optionchain_frameset.phtml?priced=Y&SID_VALUE_ID=SPY

And the NASDAQ (QQQQ):
https://fastquote.fidelity.com/webxpress/ia_optionchain_frameset.phtml?priced=Y&SID_VALUE_ID=QQQQ

Even the Market Vectors Gold Miners has significant puts for October 6th:

https://fastquote.fidelity.com/webxpress/ia_optionchain_frameset.phtml?priced=Y&SID_VALUE_ID=GDX

Make no mistake - something wicked this way comes, and the smart money has already taken preventative steps."
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