playing bid-bid - II

when i saw

the leader of this "trade brigade"
actually perform
this magic live

i asked him the inspiration behind this "trick"!

"it occured to me accidently!" he told me.

"once i wanted to buy a put option
anticipating a fall!

i called the operator
and she told me that rate was 349!

i asked her to buy.

she did.

at 349.

but to my horror
i soon realised
that 349 was a bid
whereas the last traded rate before that
was 285!!

i had been tricked!!!

i had lost 64 points
even before entering!

i was shattered....

i felt like booking the loss!

till i was struck by a crazy idea!

i called the operator again

and placed a ridiculous bid
to sell-off that put
for 389!!!

all this when the asking rate was still 285!

i never expected that bid to find a fool like me!

obviously, it didn't trigger

till

a sudden sharp move!!!

though not terribly big

the move was enough
to cause a momentary panic in the market

just enough to trigger
my ridiculous bid!!!

i had found a bigger fool
running for cover
in panic!!!

that day onward
i stopped trading
and started playing bid-bid!"