Search results

Yup...looking for the curb info now...

What the lastest number for the curbs to go in. It's been a long time since I even thought about that...

Riskarb, Why 1175 on the no touch? It has been busted a couple of times but 1167 seems to be out of the short term firing line so far -- lower premium?

Is the tail wagging the dog?

:eek: That's counterparty risk pure and simple... I'm just guessing on this but I'd imagine that the puts are unsecured obligations of a bankrupt entity...what are they going to do prevent RFX from trading anymore? Anyone who knows otherwise, I'd be interested to hear.

Yes they do... Just look at the Ansbacher site. I spoke with the manager of the Zenith fund and he does as well.

I don't trade this strategy but I believe there are guys out there like Ansbacher, Zenith fund, etc.. who do and have done so successfully for years. If you look on www.iasg.com you can see how the returns have varied during the months you cite... It's also interesting to note how the AUM...

Click "Quote" in the bottom right hand corner...:)

"... And in Europe, Austrian bank BAWAG P.S.K. said on Sunday it was exposed to Refco via credit lines it had issued worth 425 million euros. Bennett's lawyer said at his bail hearing last week that his client had pledged all of his Refco shares as collateral for the BAWAG bank loan of about...

"Refco processed 654 million derivative contracts in the fiscal year ended Feb. 28, 2005, more than what was traded at the Chicago Board of Trade, the Chicago Board Options Exchange, or the New York Mercantile Exchange during the same period. " That should tell us something about how...

Well, That's certainly one way to do it. Since there is no secondary market you just have to take/make delivery of the shares from your acount. Value to be determined at some future date. It makes sense from the OCC point of view as it gets rid of the expiring contract. For everyone else...

Finance is a much larger field than trading of course. An MBA will get you into Private Equity, M&A, Corp Finance, Investment Banking, Consulting, etc... while a Phd in some form of quantitative finance will probably not. The hours are the same no matter which field you opt for. You are...

I like that trade. Unless we blow up this afternoon or the Iraqi elections go horribly wrong, expiry and recent support should help to keep things in line next week.

Yep, You can't please everyone that's for sure... How would you feel if it took 6 months to settle out though? [unlikely in the extreme I'd think]

The options don't trade when the stock doesn't trade... What price would you exercise them at? Who would be your counterparty?

I see what you are saying... That's up to the CBOE. They might use the last traded price to settle options or they might delay settlement until the situation is resolved...

If Refco can't withdraw any money from the futures accounts doesn't that imply that customers accounts are essentially frozen -- just by the CME instead of REFCO. That can't be good. :eek:

On the contrary, If you owned puts and the stock went to 0 -- never traded again -- you would be owed the difference between your strike price and 0. What you say is true if you owned calls and the stock goes to 0.

They are in violation of their covenants and the lenders have the right to make an immediate call on the notes -- which RFX can't pay. What a mess... LPC: Refco's loans see-saw before lender call Fri Oct 14, 2005 09:57 AM ET NEW YORK, Oct 14 (Reuters) - Refco Inc.'s (RFX.N: Quote, Profile...

Is it just me or does the tone deteriorate every time we have a sell-off in the markets. :)