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To: yard_man who wrote (227109)3/11/2003 10:38:22 AM
From: Win-Lose-Draw  Read Replies (1) | Respond to of 436258
 
the premie is in the per-share trading cost paid to AMEX when we flip this thing 18 times a day. and even if it could have a premie, because the ratio is so precisely defined the arbitrage AIs would suck away any "optimism" premie before it could develop.