Checking in from the New York markets mid/late 1980’s… in the XMI options ring on the AMEX, one of the Timber Hill guys bet he could hit the ceiling with a baseball. Ok, but do it from your knees. Bets placed, he squats down and bangs it off the ceiling. Didn’t know he was the All American catcher from Ohio State before entering the ring.
Although the EF Hutton guy in the elevator with an exchange floor employee getting caught in the act was much more salacious and scandalous.... And funnier.
Sometime in the '80s, probably early to mid 80s, and I'm sure the S&P guys would know the story and specifics better than I, because I was in Euros 99% of the time I was on the Merc floor, other than a brief stint in S&P options in 1983, a filling broker for EF Hutton or a Desk Manager, I don't recall which, was on the receiving end of a BJ from an exchange floor employee who was a price reporter in one of the pits and that was taking place in an elevator. Apparently one of them hit the emergency or alarm button In the heat of passion, or one of the versions of the story goes, to keep the elevator doors from opening at an inopportune moment. 🤣
The sad or ironic part of the story is that the broker was fined big dough, but the exchange floor employee was fired from her job.
Definitely a true story and I'm sure if you know people who were in the S&P pit during the 1980s they will verify that.
You are a wonderful story teller! Your most recent posts brought back a lot of CME memories. I was in the Eurodollar options pit just before you started market-making in 1988. Was the guy who backed you named Carlson?
I can’t remember the name of the futures broker I delta hedged with but he was a 6’11” white guy who had played center for DePaul. He was both a nice guy and a good broker.
I never worked as a trader and was in the oilfields in the early 80"s. I enjoyed these few insights into the tradig pits world. Surprisingly, from these stories, the attitude (and fun) antics sound eerily similar to some of the interesting (semi-crazy!) people I knew and the things we did. Great memories. Thank you for the entertaining insights Jeffery.
Checking in from the New York markets mid/late 1980’s… in the XMI options ring on the AMEX, one of the Timber Hill guys bet he could hit the ceiling with a baseball. Ok, but do it from your knees. Bets placed, he squats down and bangs it off the ceiling. Didn’t know he was the All American catcher from Ohio State before entering the ring.
You are a great writer. Boys being boys.
thank you.
I never did it. If I did, I would have thrown from the west side of the river to the east toward the merc as it was easily 7/8 feet higher that way
I watched a clerk try it and fail miserably. Then someone else through it who I played some softball with and he cleared it easily.
RTM asking VAN in 2005 if it was more exciting this time or the last time Sox were in the World Series
that's funny
One of many great true stories.
Although the EF Hutton guy in the elevator with an exchange floor employee getting caught in the act was much more salacious and scandalous.... And funnier.
Do tell
It was one of the stories in Ron Insana's book, Trader Tales.
Sometime in the '80s, probably early to mid 80s, and I'm sure the S&P guys would know the story and specifics better than I, because I was in Euros 99% of the time I was on the Merc floor, other than a brief stint in S&P options in 1983, a filling broker for EF Hutton or a Desk Manager, I don't recall which, was on the receiving end of a BJ from an exchange floor employee who was a price reporter in one of the pits and that was taking place in an elevator. Apparently one of them hit the emergency or alarm button In the heat of passion, or one of the versions of the story goes, to keep the elevator doors from opening at an inopportune moment. 🤣
The sad or ironic part of the story is that the broker was fined big dough, but the exchange floor employee was fired from her job.
Definitely a true story and I'm sure if you know people who were in the S&P pit during the 1980s they will verify that.
I love it!
You are a great writer. Boys being boys.
Great memory. Love it.
You are a wonderful story teller! Your most recent posts brought back a lot of CME memories. I was in the Eurodollar options pit just before you started market-making in 1988. Was the guy who backed you named Carlson?
I can’t remember the name of the futures broker I delta hedged with but he was a 6’11” white guy who had played center for DePaul. He was both a nice guy and a good broker.
Might you recall his name?
Brett Burkholder.
That's it! Thanks for reminding me.
Sort of remember who that was. And if I am remembering right he did it.
I never worked as a trader and was in the oilfields in the early 80"s. I enjoyed these few insights into the tradig pits world. Surprisingly, from these stories, the attitude (and fun) antics sound eerily similar to some of the interesting (semi-crazy!) people I knew and the things we did. Great memories. Thank you for the entertaining insights Jeffery.