Condor Options

Futures are ripping higher this morning, presumably on the news that some of the financials might not crash and burn after all:

U.S. stock-index futures climbed after plans by Lehman Brothers Holdings Inc. and UBS AG to raise about $18 billion of fresh capital boosted speculation that financial firms will weather mounting credit losses. [Bloomberg]

/ES is up 15 points, while the /YMs are up 127.  Maybe this is the big rally everyone was looking for; or maybe it’s just April Fools’ Day.