Why do you think that's funny?
Probably that's explained because it wasn't always clear. Back in the late '90s, I and a few other people at Silicon Investor were discussing the index calls we all had been expecting to sell. It was expiry day; a Friday afternoon. The market was very volatile, and circuit breakers were hit several times. As the rules were then, if another halt hit during the final hour of trading, trading would stop and not resume.
We wondered what that would mean for our calls, which were in the money. We sold our calls in time, but still wanted an answer to that question. We discovered it would mean our calls would expire worthless. Yes, utterly unfair.
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