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To: John Graybill who wrote (2402)7/6/2000 4:53:34 PM
From: chic_hearne  Read Replies (1) | Respond to of 436258
 
Re: I gotta believe that that was a sell instead of a buy, and somebody is going to fight like hell to keep as much of that $731,000 as he can by expiration

Don't you mean 4400 * $16.625 * 100 = $7,315,000

NSM traded about 7 mil at $50 today, or $35,000,000

So with that much dollar volume a day, 11 days until expiration, and NSM falling like a rock... How do you fight like hell successfully?



To: John Graybill who wrote (2402)7/6/2000 4:53:50 PM
From: pater tenebrarum  Respond to of 436258
 
probably correct...but note, no hedging ahead of the jobs report in index options...that's highly unusual.