Replies to post #178100 on The Question and Answer Board (IHUB)

[janice shell]

Once back in, I think, 1997, I was convinced the market was going to tank. Most people evidently didn't agree. At some point in August I noticed that OEX 1010 calls were selling at over $6. Expiry was in late September. I wanted to sell 25,000 contracts.

It was a really lovely fantasy. It would have meant the Dow had to go over about a thousand; at the time it was under 850. Those were different times; that kind of movement just wasn't going to happen.

Needless to say, my broker laughed and laughed. No way would they have taken that risk for me. But I was right. After expiry, my broker asked: "Do you realize you would have made $30 million?"

Well, DUH.