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Technology Stocks : INTEL TRADER -- Ignore unavailable to you. Want to Upgrade?

To: MonsieurGonzo who wrote (2264)	4/14/1998 4:45:00 AM
From: smolejv@gmx.net	Read Replies (1) \| Respond to of 11051

Steve, my dear Professor: Simplex call equal to short-a-call @money and long--a-call-or two near the money?... I think it's more complicated than this - otherwise there would be tons of offerings in this market slot. To describe it concisely: A simplex call DAX 5000 @ 1DM promises: a) a payback of 1DM on due date if DAX > 5000 b) a payback of 0DM on due date if DAX < 5000 The payback function iow is a step function of 100% at DAX=5000. How they design it, is beyond me - I assume it is a portfolio of longs and shorts with different strikes. I'm waiting for Godot ?!...You're kidding. I thought you were waiting for Mme Gonzo (g). Janko