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To: hpeace who wrote (14722)1/23/1998 1:25:00 PM
From: Night Writer  Read Replies (1) | Respond to of 97611
 
Ipeace,
They don't use the creative derivative market. Perhaps that market does not exist any more. Many people were burned badly in the 80s (I think) by what I think of as creative derivatives. That is where two or more conditions exist for exercise. The derivative was written to meet specific company need. They were sold to financial institutions that really didn't understand the risk they were assuming. They only understond that someone was willing to pay what appeared to be a great price to give the option.

Do you remember those derivatives?
NW