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沙發
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發表於 2018-11-26 07:01:46
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Options markets losers have complained that prices became unreasonably high during the day on Black Monday, that professional options traders at the Chicago Board Options Exchange were gouging individual investors.
Exchange officials dispute that. With the stock market in free-fall, the risk of buying was too great and traders had to demand steep premiums to protect themselves from disaster. "It's like walking into a burning house and trying to buy fire insurance. Of course it costs a lot," said a CBOE spokesman.
Soon after lunch on Black Monday, the manager of the Alexandria branch of Thomson McKinnon was on the phone to Fluke, telling him his $54,000 had been wiped out and he had to come up with another $250,000 immediately. In the dry language of the lawsuit filed against the hapless options writer, "defendant represented to the branch manager that he could not meet the margin call."
A few minutes later the branch manager called back. If you don't come up with a quarter of a million dollars immediately, we'll have to sell out your account at any price. "Defendant advised the Branch Manager to close out defendant's account," the lawsuit noted. |
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