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

To: Knighty Tin who wrote (100713)	9/23/2004 1:25:30 PM
From: Tommaso	Read Replies (2) \| Respond to of 132070

Well, obviously you are not the kind of genius who ran Long Term Capital Management <G>. I am assuming that the CBOE calculator is programmed with the Whosits-Wahtsis-Scholes algorithm. I went ahead and paid about 20% more than it said I should last week for some December puts on the XLF, and the FNM news is making those look OK. Now the calculator says those puts are worth 10% more than the ask price. My reasoning for buying the puts was quite faulty. I wanted something that would include the huge insurance claims from the hurricanes, but according to what I read the insurance comapnies have ample reserves. But maybe the whole financial sector is wormy enough to make me some money before the puts expire in December.