Derivatives: Darth Vader's Revenge Message Board

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Non-Tech : Derivatives: Darth Vader's Revenge

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To: Peter Singleton who wrote (22)	9/3/1998 10:28:00 AM
From: Worswick	Read Replies (1) of 2794

Petter hello this am. Do you remember George Soros problems with the Chicago exchange in 1987? He was, as I recall, long a huge number of puts on the S&P. So much so that the exchange I think but am not sure was unable to "cover" his puts. It seemed to me that they stopped trading rather than honor their obligations to Soros. Something like this. When they started trading again the market had gone up and Soros's positon was substantially imparied. A law suit ensued. Bascially, the house changes the rules when it suits the house.

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