The San Francisco Chronicle reports today that there was an
unusually large number of puts placed on United and American airline
stock in the day before the terrorist attacks.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2001/09/18/MN63703.DTL
Apparently, strong-form efficient market theory sometimes holds.
Alex
--
Dr. Alexander Tabarrok
Vice President and Director of Research
The Independent Institute
100 Swan Way
Oakland, CA, 94621-1428
Tel. 510-632-1366, FAX: 510-568-6040
Email: [EMAIL PROTECTED]
