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« Intermediate Outlook Moves to Neutral | Main | CDO's and the Market: An Investor Guide »

July 01, 2007



Adam -

We are sharing some memories here! It was very tough trading the deep index options in those days.

Things have changed a bit since more people are invested in SPY and some use the XEO (European exercise). There are still some days, like the one you pointed out, where the options activity is significant.

Thanks again,



thanks for the links. I link you in my MV blog rundown, but i realized i never updated my own blogroll, although same here, I read you all the time.

I haven't traded index options actively in forever, I totally forgot about the exercise angle when it misaligns. It has to be a cash-settled product like you mention and non euro-exercise. But you bring me back in time (late 80's, when i started). We would get hosed each expiration with them gunning it one way and exercising that side, then gunning it the other way the next day.

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