Options Trading News

August 22, 2013  Thu 12:20 PM CT

The Nasdaq has halted trading because of technical problems in a highly unusual move but now says that it will reopen "at a time to be determined."

At 12:25 p.m. ET we were notified that trading was being suspended at all Nasdaq options markets. The outage has been in effect for an hour as of this writing.

It is the latest of a number of technical issues that have occurred in the option markets since Monday. The week began with highly publicized bad trades from Goldman Sachs on Monday, followed by some unusual action involing the CBOE Volatility Index and VIX futures settlement for August contracts yesterday morning.

Regardless of what is causing all these problems, the situation will clearly do little instill the already-shaken public confidence in the markets.
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As I stated in last week's article, a break out or a break down needs to have a couple things happen before it is considered a confirmed break out or break down. The only problem is that in today's market where things move much more quicker than they did just a few years ago, two days could wind up being the majority of the expected movement, if not the whole movement.

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