Wall St. should move to Las Vegas

It belongs there nowadays.

Why, because AIG equity is very volatile? AIG ought to be volatile as either this is an enormous insurance company that was worth $200B not long ago or it’s an insolvent Chapter 11 filing. Really small changes in the probabilities of those things causes lots of volatility in equity prices.

A 270 percent swing in one day?? The MMs have gone crazy.

Well, suppose that it was as simple as I said (which it clearly isn’t) but that AIG was worth $200B or $0. If the market has it worth $10B right now, then it says this is 5%/95%. A change in probability from 7% to 3% means that the stock changes by 300%. With all the stuff going on with AIG today, that’s sort-of reasonable. I agree that there is certainly lots of day-trading silliness going on with this stock today though.

you can buy afterhours now for 2.2 / share… a 40% discount to the close… enjoy.