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Strategies & Market Trends : Canadian Options
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To: Goldberry who wrote (708)10/23/1997 5:20:00 PM
From: Dave.S   of 1598
 
Graham:

If you want to protect a Canadian portfolio then buy some TXO puts.

These are options which are priced off the Toronto 35 Futures, which represents the 35 largest listed companies on the TSE.

They are expensive, so I would only buy them if you think there is going to be a serious correction in a short period of time.

For example, the TXF Futures is at about 367, the November 370 puts are about $7.70, the 360 puts are about $3.70. That is to protect a portfolio of $366,000 you would have to buy 10 TXO November 370 puts worth $7,700 good until November 20, 1997.

Dave
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