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Currently about 60% of equity option trading is done AWAY from the CBOE.
BobR wrote:
> Someone knew about the presentation a day later on AWE and T that appeared
> later on CNBC. Following that T started climbing.
> A few days ago I read an article in the January issue of "Technology
> Investor" magazine that had a view on tracking stocks the parent company.
> It said the value in tracking stocks is in how they are structured. Some
> have zero value and trade on momentum. It also said they were issued at
> times when the parent stock was under pressure and believed to be
> undervalued in the marketplace. Thus one trading approach was to short the
> tracking stock and buy the parent company. That could be a losing trade
> while the tracking stock has upward momentum, but when timed it could make a
> decent trade.
>
> Your comment about trading done away from the CBOE brings up the issue of
> just how timely/realistic are such data streams as the @SCC and @SPC cboe
> call and put trins. It amazes me how all the equity option trades could
> take place and be reported and the index calculated and distributed and be
> of timely use for index/futures trading. The attached chart suggests that
> after the opening volatility the trins do have some value. Is it because
> much of the volume is electronic? When I see TV shots of waving hands and
> then look at the ticks on my monitor it is amazing how its all turned into a
> data stream that has trend. This entire process would seem to dictate a
> minimum time frame to use in charting that had a relationship between noise
> and trend. VIX appears to be very timely.
>
> BobR
>
> ----- Original Message -----
> From: "The Doctor" <droex@xxxxxxxxxxxx>
> To: "realtraders" <realtraders@xxxxxxxxxxx>
> Sent: Wednesday, November 29, 2000 5:47 PM
> Subject: [RT] Option put/call
>
> > For those of you who follow the p/c over 100,000 A T & T puts were sold
> > today, most of the trading was done away from CBOE. If you look at all
> > option trading these transactions ... which were not directional in
> > nature... could give you funny put/call number. About half of the trade
> > was done on the PHLX.
> >
> >
> >
> > To unsubscribe from this group, send an email to:
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> >
> >
> >
> >
>
>
> To unsubscribe from this group, send an email to:
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>
> ------------------------------------------------------------------------
> Name: Trins.gif
> Trins.gif Type: GIF Image (image/gif)
> Encoding: base64
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