Interesting CBOE story

Discussion in 'Politics & Religion' started by Maverick74, Jan 2, 2004.

  1. Maverick74


    A group of about 15 traders and clerks from the CBOE all put in $10 to buy $150 worth of lottery tickets. They sent a girl over the next day to see if they won anything. Now she was not part of the pool. It turned out that one of the tickets did indeed win $175,000. The woman jumped up and down and got all excited and was going crazy, the only problem was she didn't win since she was not in the pool.

    So she decided since some of these traders are worth millions that she thought it would be best if she just kept the winning ticket herself and claim the money and tell the other 15 people that they didn't win anything. The problem was that one of the 15 people from the pool was in the convenience store at the same time and witnessed the whole event. Not to mention the whole thing was caught on camera.

    So basically now everyone is waiting for this woman to do the right thing and turn the ticket in. Remember these tickets can be claimed by anyone so she could take the cash and run. Everyone is waiting to see what she does. Funny story heh?
  2. Now you have totally "outdone" yourself!

    This story is WAAAAAAAY better than the Reticulated Python post!


  3. Maverick74


    I don't know, I really liked that python story.
  4. WOMEN!
  5. Considering that she did not come forward immediately after the winning ticket was discovered; that she is probably aware that word has leaked around the trading floor that she is withholding the winning ticket, and finally that no one trusts her any longer and she probably will not be employed by the firm much longer, nor any other firm that gets word of this stunt...I would have to say her best bet is to cash the winning lottery ticket and move out of state. If the only reason she comes forward is because she knows that she was caught, then there is no way she will regain the trust of the guys in the pool to begin with.

    Either way this sounds like something out of an undergrad ethics class...
  6. Maverick74


    Yes from a strategy standpoint, her best play is to take the money and leave town. She really has nothing to gain by turning in the ticket and staying because she may end up losing her job anyway and the respect of those around her. Her optimal strategy is to take the money, head to vegas and sign up for Don Bright's bootcampers workshop and learn the opening order strategy. This is clearly her best move.
  7. Wow. Can't believe those CBOE guys would do something so dumb as buy a lottery ticket...sheesh...

    BTW, I loaded up on Jan04 QQQ 20 puts. I just KNOW that QQQ will crash this month! :eek:

    Just kiddin'. Still, kinda funny CBOE option traders buying lottery tix :D
  8. Maverick74


    Actually you would be surprised how many of those guys gamble. Many catch the first flight out to Vegas on Friday nights.

    Here is an even better story. Legendary bond trader Charlie Difrancesca one day decided to help out one of the guys in the newspaper stand in front of the CBOT. He gave the guy a rather large tip after he bought a paper from him and told the guy to buy some lottery tickets with the money. Sure enough the poor guy did just that and to his surprise one like 25 million dollars. Of course the newspaper vendor left his job and was never heard from again. It was believed that he bought a condo down in Hyde Park and was never seen again.
  9. I'm willing to be there is more to this story than we are being told.
  10. The liquor store clerk who sold her the tickets knows she had a winner (the store gets 1% for selling the winning ticket) and saw her stick it in her shirt. She wasn't at all subtle. The exchange community here is like high school with money. Ain't no secrets. Word gets out fast about EVERYTHING.
    #10     Jan 2, 2004