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A story circulating at the CBOE(not confirmed just a story)was that what
to Victor down was the change in implied vol.....he was in fact short
combs and got hurt on both sides. The story alledges that the combos
were combos on the Spoo future so I can't confirm. It's interesting
because in a sense he wasn't murder purely by the decline...he was taken
out by the short option ttrader's worst nightmare .. a spike in implied.
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