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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (87224)	12/19/2000 6:34:47 PM
From: Tommaso	Respond to of 132070

No they were like that all day. I think that there might be some kind of discounting formula, which would make sense if you assumed that because the Dow has been really more or less level for 18 months that 10,000-11,000 with a slight upward bias is "normal." Do we think that 10,500 is "normal" for the Dow? No. Maybe someone who is handy with discounted present value--you know, I think I have a calculator that does that but I never understood it. Anyway, if you can buy an option to sell the Dow in December, 2002 at 14,000, and can buy it for less than--a lot less than-- the current value of the (European, not exercisable) put, it's like having the ---well, I was going to say the key to the back door of the Queen of Sheba's bedroom, but I won't mess up the thread with such an extravagant simile.