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To: AlienTech who wrote (37835)	3/31/1998 1:38:00 AM
From: Patrick Slevin	Respond to of 58727

Voodoo Knowledge?? Heh, I'm hardly a Master Practioner. Voodoo knowledge. I can see it shall take a few moments to compose myself for this post. No, the OEX's price is based on a basket of stocks that comprise the 100 stocks in the S&P 100. Similar to the SPX, the price of which is derived from 500 stocks. The S&P Futures are traded like a commodity; soybeans for example. Off hand I do not know what month soybeans trade, but if you buy an August contract you are liable to take delivery of a contract of soybeans in August. If you buy a June S&P, you are liable to take delivery of about $600,000 worth of stock in June. As far as how they trade it in the pits; perhaps everyone has seen "Trading Places", the scene in NYC where they traded FCOJ (Frozen Concentrated Orange Juice). Visualize something like that. Voodoo knowledge. Maybe it is, I dunno.