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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Tommaso who wrote (150254)2/8/2002 3:49:13 PM
From: Earlie  Read Replies (1) of 436258
 
T:

In a widespread financial disaster, anything is possible. (g)

I don't know.

Years ago, I heard a story about some Canucks who were (evidently) beaten out of the legitimate profits they should have received from puts taken before "Black Monday", 1987, but when I went back to try to legitimize its actual occurrence, I was not able to confirm it. That said, 1987 isn't in the same league with today's environment. I think we all have to worry about "counter-party risk" today. If a BK happens, who ensures (or even cares ) that we get paid? Also, I can envision an environment where the brokerage industry would go to great lengths to screw any short/put buyer who made money while everyone else was pulverized.

best, Earlie
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