Cleared for the Option, from Chris Tucker
As the S&P 500 futures hover around the 1500 mark I am reminded of the "Cleared for the option" which gives a pilot the option to do a full stop landing, stop and go, touch and go or low approach or missed approach…
From the handbook:
1. The "Cleared for the Option" procedure will permit an instructor pilot/flight examiner/pilot the option to make a touch-and-go, low approach, missed approach, stop- and-go, or full stop landing. This procedure will only be used at those locations with an operational control tower and will be subject to ATC approval.
Richard Owen writes:
Let us say a small prayer for the hungry equity broker who's volumes were down 30% last year on an already tough year and wish him much whipsaw, turnabout and retracement around the top. His commissions will be deserved sustenance and emboldening for 2013.