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Doc, how does the daily volume and open interest compare with the S&P mini
contract? I know I could get this from the papers but perhaps, since you
are a bit more connected, you could expound a bit.
Regards,
Tom Alexander
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> From: THE DOCTOR <droex@xxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Re: Victor Niederhoffer
> Date: Saturday, November 01, 1997 8:39 PM
>
> I got to stop answering e mail from the airplane. I can hardly type
> under normal conditions.
>
> The story circulating in the Chicago derivate community about Vic
> relates to his having been short combos in the S & P 500 future and
> getting hurt not only by price action but by the huge change in implied
> vol. The futures options require "variation" margin which he could not
> meet. Again I'll emphasize that this is merely a story circulating in
> the community.
>
> It couldn't have been in the securities option, I think, or we would
> have heard more about it on the CBOE floor. I just got back from a
> series of Dow seminars in Houston. We had in the neighborhood of 1,000
> people in all three seminars. IMHO the DJX has been a huge beneficiary
> of this week's vol......Would you rather be lucky or smart? The
> introduction three weeks back could not have been timed better. Open
> Interest in the DJX short options now exceeds 300,000 contracts. The
> biggest product introduction in history.
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