The following is the OptionBT
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Position taken   :
Position Description   :
Three Weeks out,
Bear Vertical Call Spread for credit,
241 points out.
March 2001 / Settlement = 1156.28
Credit or (Debit)   :
$ 10 M
Comments   :   Uncle Loey
It's not even close to being obvious how "Uncle Loey" got anyone to take the other side
of this combination even for 5 cents and 10 cents.
There are only three weeks until expiration and the position is 240 points
out of the money for crying out loud.
About the only explanation that makes any sense is that
maybe "Uncle Loey" let his nephew trade his account with $10M of margin
in it so that his nephew could do this trade and make some money for college.
"Uncle Loey" also had to get one of his buddies to take the other side of this
It is not likely you or I could get this trade filled.
In the end "Uncle Loey" (or the nephew) took home $10K.
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