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It is 1/5 the size
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From: M. Edward Borasky <znmeb@xxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: EFPs not available for Mid-Am
Date: Friday, February 05, 1999 9:10 PM
Are you sure the MidAm pound is 1/5 the CME? I was pretty sure it was
1/2 the CME like all the others. I don't have the contract specs handy,
though.
--
M. Edward Borasky znmeb@xxxxxxxxxxxx http://www.teleport.com/~znmeb
If God had meant carrots to be eaten cooked, He would have given rabbits
fire.
-----Original Message-----
From: Mark Morrison < mmorrison@xxxxxxxxxx>
To: RealTraders Discussion Group < realtraders@xxxxxxxxxxxxxx>
Date: Friday, February 05, 1999 15:30
Subject: EFPs not available for Mid-Am
All Mid-Am currencies are half-size contracts, except for the British
Pound which is only one fifth of the full size contract. No EFPs are
available for a size less than 1 full CME contract. Some firms even
require a minimum 5 lot to trade EFPs. To protect a Mid-Am currency
contract (except for British Pound), Ira's idea of buying an option is
good. Buy an at-the-money CME currency option with a 50% delta,
combined with 1 Mid-Am currency futures contract (except BP) and you'll
be "delta neutral", theoretically.
Mark Morrison
mmorrison@xxxxxxxxxx
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