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80s CME & CBOE traders had a move called the "O'Hare Play" - the original YOLO:pic.twitter.com/tsnXb3V0hh
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Love this lol
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It was called “the O’Hare hedge: “short the position limit, long a ticket out of town.”
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I've heard it called the "O'Hare Straddle" as well.
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Unfortunately, that's bullshit! I ran a couple FCM's. We knew who was likely to take a shot on us. We put limits on trading and positions and let brokers know they couldn't handle 'size'. Yes, we took some hits but not an airport trade. If it did happen, I would take any profit.
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It's an old market folk tale. Floor traders always love ribbing each other.
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“And then, he got on a plane and was never heard from again. Goodnight kids!”pic.twitter.com/RSd4x3uvpm
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Ahh yes. Oldie but goodie. The ever popular O’Hare Spread. Not sure I ever heard “play” though? Always a winning strategy initially. Longer term, not so much...
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