BOOM: Goldman Sachs Could Suffer Losses Over $100 Million On Erroneous Options Trades Placed Today!

Goldman faces losses on erroneous trades
Goldman Sachs could lose as much as $100m after making erroneous trades that disrupted trading activity across multiple options exchanges on Tuesday, market participants have told the Financial Times. …
http://www.ft.com/intl/cms/s/0/f95200d6-09ad-11e3-ad07-00144feabdc0.html#axzz2cXvCPVQX
We Have Confirmation: This Morning’s Market #Fail Brought To You By Goldman Sachs
This morning’s debacle in the options pit appears - just as we noted - to be due to Goldman Sachs ‘erroneous’ trades:

• *GOLDMAN MAY LOSE AS MUCH AS $100M ON ERRONEOUS TRADES: FT

But, as we also noted earlier, unlike Knight (which was wiped out when its market-making algos went rogue), in Goldman’s case:

• *GOLDMAN SAYS ‘WORKING WITH EXCHANGES’ TO RESOLVE OPTIONS ISSUE

They get everything DK’ed…
http://www.zerohedge.com/news/2013-08-20/we-have-confirmation-mornings-market-fail-brought-you-goldman-sachs
Goldman Sachs is forecasting a dollar-lira rate of 2.2 #Turkish Market is in trouble
http://www.nytimes.com/2013/08/21/business/global/turkish-skyline-foreshadows-emerging-market-slowdown.html?smid=tw-share&_r=0
Surprising Late-Day Slump Extends Dow To 5-Day Losing Streak
The 5th close in a row for the Dow – most since the last week of 2012; second largest 5-day loss of the year; but largest 12-day loss in 9 months….

http://www.zerohedge.com/news/2013-08-20/surprising-late-day-slump-extends-dow-5-day-losing-streak
Goldman issues mistaken options orders
Prices in some contracts were roiled by the mistaken orders U.S. stock-options exchanges on Tuesday were reviewing a wave of mistaken orders tied to Goldman Sachs Group Inc. that hit just after the market opened, with many likely to be canceled, according to exchange officials.
Goldman Sachs /quotes/zigman/188479/quotes/nls/gs GS +0.59% mistakenly issued the orders into the stock-options market, roiling prices in some contracts early Tuesday.
A technical problem at Goldman unleashed orders that pushed some stock-options prices to $1 just after the market opened Tuesday, forcing exchanges to review the trades and potentially cancel many of them, people familiar with the matter said.
The erroneous orders, placed for options on securities with ticker symbols beginning with the letters H through L, drove some contract prices sharply lower, said traders, who suspected a misfired trading algorithm. The options were linked to both individual stocks and exchange-traded funds.
http://www.marketwatch.com/story/goldman-issues-mistaken-options-orders-2013-08-20?link=MW_home_latest_news
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