• OPTIONS
  • NOVEMBER 20, 2008, 8:56 P.M. ET

Traders Make Quick-Hit Options Bets in Financials

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Traders did something they rarely do -- they bought options that expire in a matter of hours.

Under normal circumstances, traders steer clear of options that are close to expiring. That is because they have a greater chance of losing money when they bet on a company's stock moving in a certain direction within a short amount of time.

On Thursday, traders showed up in droves to buy and sell November options in several of the largest financial companies, even though the contracts become obsolete when the ...

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