Gambling With an Edge cover image

Blair Hull Episode #4

Gambling With an Edge

00:00

The Market Crash of 1987

The markets had been retreating for some time a few weeks before, but nobody expected this kind of crash. We were on the Chicago Board of Options Exchange where we were actually the primary market maker in the SPX options on that day. The Fed had actually increased the requirements for market makers and customers. And so was our responsibility to put up quotes for the S&P 500 options. I was the only member of the firm that had a full Board of Trade seats.

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