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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Haim R. Branisteanu who wrote (15220)8/31/2000 11:56:28 AM
From: pater tenebrarum  Read Replies (1) of 436258
 
they're still buying OEX puts...it's exactly the same situation as during the October to March rally...low equity p/c's, high index p/c's, and the Fed offering ever more absurd piles of liquidity via repos to the market.

you're right btw...it makes no sense to buy puts, as stocks only go up. the large number of outstanding calls will drive the market still higher due to delta hedging strategies...
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