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That's a fair point. The decision was made to mimic Cantor Exchange. {nm}

Posted by: Antibody on Jan 12, 20:05 in response to SPrasad2's post except that both have to delist at the same price, right?

how are CX derivatives priced? SPrasad2 Jan 12, 18:50

when you figure that out, let me know mickpix Jan 12, 19:13

They IPO three months before the movie opens wide at the exact price of the movie stock. From there they move as any other stock. {nm} fourstars Jan 12, 19:23

That was the previous method. Starting today, they IPO at the same price as the equivalent on Cantor Exchange. {nm} Antibody Jan 12, 19:25

However, since they never adjust, the derivative can end up being way under or overpriced and ending up as an obvious ARB or BRA situation. {nm} fourstars Jan 12, 19:25

that makes sense--but why price them as arb on day 1? unless i'm missing something, all three IPOs today have ~$10 riskless spreads on them {nm} SPrasad2 Jan 12, 19:38

There isn't any arbitrage between MST and CX Derivatives, because their values are tied to box office, not to each other. {nm} Antibody Jan 12, 19:51

except that both have to delist at the same price, right? SPrasad2 Jan 12, 19:59

That's a fair point. The decision was made to mimic Cantor Exchange. Antibody Jan 12, 20:05

It wouldn't be possible to be ARB or BRA on Day 1 because there won't have been any box office reported on Day 1 secretstalker Jan 12, 20:10

the individual CX deriv isn't--but the spread certainly is an arb trade since the MST and CX must delist at the same price {nm} SPrasad2 Jan 12, 20:15

You'd have to come up with a different term for that... true, one or the other could be overpriced/underpriced secretstalker Jan 12, 20:27

except that the MST is both about adjust and delist. also, meant arb only in technical sense of riskless profit. SPrasad2 Jan 12, 20:38

this whole conversation is pointless, since Antibody said they are IPOing CX at Cantor Exchange prices, end of story ndmaster Jan 12, 20:58





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(+0.35)          The Batman: Part II (TBAT2) 4239 242.59 (-0.41)          The Friend (FREND) 10 4.06 (+0.35)          Shadow Force (SHDWF) 3 12.12 (+0.37)          Shadow Force (SHDWF) 3 12.12 (+0.37)          The Thomas Crown Affair (TTCAF) 1 15.50 (+0.45)          The Thomas Crown Affair (TTCAF) 1 15.50 (+0.45)          The Smashing Machine (SMACH) 3 17.58 (+0.66)          The Smashing Machine (SMACH) 3 17.58 (+0.66)          & Sons (ASONS) 2 5.52 (+0.78)          & Sons (ASONS) 2 5.52 (+0.78)          Bear Country (BEARC) 3 14.86 (+0.87)          Bear Country (BEARC) 3 14.86 (+0.87)          Fing (FING) 2 6.83 (+1.14)          Fing (FING) 2 6.83 (+1.14)          The Sims Movie (TSIMS) 149999 58.71 (-2.37)          The Moment (MOMNT) 2 15.03 (+1.24)          The Moment (MOMNT) 2 15.03 (+1.24)          David (DAVID) 149999 51.66 (-0.04)          The Batman: Part II (TBAT2) 79238 242.59 (-0.41)          The Sims Movie (TSIMS) 150000 58.71 (-2.37)          The Sims Movie (TSIMS) 1 58.71 (-2.37)          David (DAVID) 150000 51.66 (-0.04)          Bad Fairies (BFAIR) 149999 45.74 (+0.14)          Spider-Man: Beyond the Spider-Ve (ASPD3) 149999 200.80 (+0.33)          Avengers: Secret Wars (AVNG6) 25000 464.34 (+0.65)          The Sims Movie (TSIMS) 50000 58.71 (-2.37)          Shadow Force (SHDWF) 149999 12.12 (+0.37)          The Woman in the Yard (TWITY) 1385 18.40 (-0.05)          Fing (FING) 150000 6.83 (+1.14)          Until Dawn (UDAWN) 149999 28.94 (-0.11)          Superman (SUPRM) 3 250.21 (-1.00)          Superman (SUPRM) 3 250.21 (-1.00)          Death Of A Unicorn (DUNIC) 1 13.15 (+0.16)          Sing 3 (SING3) 2 89.46 (-1.79)          Death Of A Unicorn (DUNIC) 150000 13.15 (+0.16)          Wuthering Heights (WUTHR) 150000 36.56 (-1.31)          The Moment (MOMNT) 1 15.03 (+1.24)          Cate Blanchett (CBLAN) 25000 10.76 (-0.19)          Sing 3 (SING3) 150000 89.46 (-1.79)          Cate Blanchett (CBLAN) 24950 10.76 (-0.19)          Superman (SUPRM) 3 250.21 (-1.00)          Superman (SUPRM) 3 250.21 (-1.00)          Eden aka Origin Of Species (OSPEC) 149999 14.20 (+0.37)          Barbarella (BARBA) 1 45.25 (+1.98)          Barbarella (BARBA) 150000 45.25 (+1.98)          The Luckiest Man in America (PLUCK) 10 4.37 (+0.32)          The Luckiest Man in America (PLUCK) 10 4.37 (+0.32)          Eden aka Origin Of Species (OSPEC) 3 14.20 (+0.37)          Eden aka Origin Of Species (OSPEC) 3 14.20 (+0.37)          The Friend (FREND) 10 4.06 (+0.35)          The Batman: Part II (TBAT2) 4239 242.59 (-0.41)          The Friend (FREND) 10 4.06 (+0.35)          Shadow Force (SHDWF) 3 12.12 (+0.37)          Shadow Force (SHDWF) 3 12.12 (+0.37)          The Thomas Crown Affair (TTCAF) 1 15.50 (+0.45)          The Thomas Crown Affair (TTCAF) 1 15.50 (+0.45)          The Smashing Machine (SMACH) 3 17.58 (+0.66)          The Smashing Machine (SMACH) 3 17.58 (+0.66)          & Sons (ASONS) 2 5.52 (+0.78)          & Sons (ASONS) 2 5.52 (+0.78)          Bear Country (BEARC) 3 14.86 (+0.87)          Bear Country (BEARC) 3 14.86 (+0.87)          Fing (FING) 2 6.83 (+1.14)          Fing (FING) 2 6.83 (+1.14)          The Sims Movie (TSIMS) 149999 58.71 (-2.37)          The Moment (MOMNT) 2 15.03 (+1.24)          The Moment (MOMNT) 2 15.03 (+1.24)          David (DAVID) 149999 51.66 (-0.04)          The Batman: Part II (TBAT2) 79238 242.59 (-0.41)          The Sims Movie (TSIMS) 150000 58.71 (-2.37)          The Sims Movie (TSIMS) 1 58.71 (-2.37)          David (DAVID) 150000 51.66 (-0.04)          Bad Fairies (BFAIR) 149999 45.74 (+0.14)          Spider-Man: Beyond the Spider-Ve (ASPD3) 149999 200.80 (+0.33)          Avengers: Secret Wars (AVNG6) 25000 464.34 (+0.65)          The Sims Movie (TSIMS) 50000 58.71 (-2.37)          Shadow Force (SHDWF) 149999 12.12 (+0.37)          The Woman in the Yard (TWITY) 1385 18.40 (-0.05)          Fing (FING) 150000 6.83 (+1.14)          Until Dawn (UDAWN) 149999 28.94 (-0.11)          Superman (SUPRM) 3 250.21 (-1.00)          Superman (SUPRM) 3 250.21 (-1.00)          Death Of A Unicorn (DUNIC) 1 13.15 (+0.16)          Sing 3 (SING3) 2 89.46 (-1.79)          Death Of A Unicorn (DUNIC) 150000 13.15 (+0.16)          Wuthering Heights (WUTHR) 150000 36.56 (-1.31)          The Moment (MOMNT) 1 15.03 (+1.24)          Cate Blanchett (CBLAN) 25000 10.76 (-0.19)          Sing 3 (SING3) 150000 89.46 (-1.79)          Cate Blanchett (CBLAN) 24950 10.76 (-0.19)          Superman (SUPRM) 3 250.21 (-1.00)          Superman (SUPRM) 3 250.21 (-1.00)          Eden aka Origin Of Species (OSPEC) 149999 14.20 (+0.37)          Barbarella (BARBA) 1 45.25 (+1.98)          Barbarella (BARBA) 150000 45.25 (+1.98)          The Luckiest Man in America (PLUCK) 10 4.37 (+0.32)          The Luckiest Man in America (PLUCK) 10 4.37 (+0.32)          Eden aka Origin Of Species (OSPEC) 3 14.20 (+0.37)          Eden aka Origin Of Species (OSPEC) 3 14.20 (+0.37)          The Friend (FREND) 10 4.06 (+0.35)          The Batman: Part II (TBAT2) 4239 242.59 (-0.41)          The Friend (FREND) 10 4.06 (+0.35)          Shadow Force (SHDWF) 3 12.12 (+0.37)          Shadow Force (SHDWF) 3 12.12 (+0.37)          The Thomas Crown Affair (TTCAF) 1 15.50 (+0.45)          The Thomas Crown Affair (TTCAF) 1 15.50 (+0.45)          The Smashing Machine (SMACH) 3 17.58 (+0.66)          The Smashing Machine (SMACH) 3 17.58 (+0.66)          & Sons (ASONS) 2 5.52 (+0.78)          & Sons (ASONS) 2 5.52 (+0.78)          Bear Country (BEARC) 3 14.86 (+0.87)          Bear Country (BEARC) 3 14.86 (+0.87)          Fing (FING) 2 6.83 (+1.14)          Fing (FING) 2 6.83 (+1.14)          The Sims Movie (TSIMS) 149999 58.71 (-2.37)          The Moment (MOMNT) 2 15.03 (+1.24)          The Moment (MOMNT) 2 15.03 (+1.24)          David (DAVID) 149999 51.66 (-0.04)          The Batman: Part II (TBAT2) 79238 242.59 (-0.41)          The Sims Movie (TSIMS) 150000 58.71 (-2.37)          The Sims Movie (TSIMS) 1 58.71 (-2.37)          David (DAVID) 150000 51.66 (-0.04)          Bad Fairies (BFAIR) 149999 45.74 (+0.14)          Spider-Man: Beyond the Spider-Ve (ASPD3) 149999 200.80 (+0.33)          Avengers: Secret Wars (AVNG6) 25000 464.34 (+0.65)          The Sims Movie (TSIMS) 50000 58.71 (-2.37)          Shadow Force (SHDWF) 149999 12.12 (+0.37)          The Woman in the Yard (TWITY) 1385 18.40 (-0.05)          Fing (FING) 150000 6.83 (+1.14)          Until Dawn (UDAWN) 149999 28.94 (-0.11)          Superman (SUPRM) 3 250.21 (-1.00)          Superman (SUPRM) 3 250.21 (-1.00)          Death Of A Unicorn (DUNIC) 1 13.15 (+0.16)          Sing 3 (SING3) 2 89.46 (-1.79)          Death Of A Unicorn (DUNIC) 150000 13.15 (+0.16)          Wuthering Heights (WUTHR) 150000 36.56 (-1.31)          The Moment (MOMNT) 1 15.03 (+1.24)          Cate Blanchett (CBLAN) 25000 10.76 (-0.19)          Sing 3 (SING3) 150000 89.46 (-1.79)          Cate Blanchett (CBLAN) 24950 10.76 (-0.19)          Superman (SUPRM) 3 250.21 (-1.00)          Superman (SUPRM) 3 250.21 (-1.00)          Eden aka Origin Of Species (OSPEC) 149999 14.20 (+0.37)          Barbarella (BARBA) 1 45.25 (+1.98)          Barbarella (BARBA) 150000 45.25 (+1.98)          The Luckiest Man in America (PLUCK) 10 4.37 (+0.32)          The Luckiest Man in America (PLUCK) 10 4.37 (+0.32)          Eden aka Origin Of Species (OSPEC) 3 14.20 (+0.37)          Eden aka Origin Of Species (OSPEC) 3 14.20 (+0.37)          The Friend (FREND) 10 4.06 (+0.35)          The Batman: Part II (TBAT2) 4239 242.59 (-0.41)          The Friend (FREND) 10 4.06 (+0.35)          Shadow Force (SHDWF) 3 12.12 (+0.37)          Shadow Force (SHDWF) 3 12.12 (+0.37)          The Thomas Crown Affair (TTCAF) 1 15.50 (+0.45)          The Thomas Crown Affair (TTCAF) 1 15.50 (+0.45)          The Smashing Machine (SMACH) 3 17.58 (+0.66)          The Smashing Machine (SMACH) 3 17.58 (+0.66)          & Sons (ASONS) 2 5.52 (+0.78)          & Sons (ASONS) 2 5.52 (+0.78)          Bear Country (BEARC) 3 14.86 (+0.87)          Bear Country (BEARC) 3 14.86 (+0.87)          Fing (FING) 2 6.83 (+1.14)          Fing (FING) 2 6.83 (+1.14)          The Sims Movie (TSIMS) 149999 58.71 (-2.37)          The Moment (MOMNT) 2 15.03 (+1.24)          The Moment (MOMNT) 2 15.03 (+1.24)          David (DAVID) 149999 51.66 (-0.04)          The Batman: Part II (TBAT2) 79238 242.59 (-0.41)          The Sims Movie (TSIMS) 150000 58.71 (-2.37)          The Sims Movie (TSIMS) 1 58.71 (-2.37)          David (DAVID) 150000 51.66 (-0.04)          Bad Fairies (BFAIR) 149999 45.74 (+0.14)          Spider-Man: Beyond the Spider-Ve (ASPD3) 149999 200.80 (+0.33)          Avengers: Secret Wars (AVNG6) 25000 464.34 (+0.65)          The Sims Movie (TSIMS) 50000 58.71 (-2.37)          Shadow Force (SHDWF) 149999 12.12 (+0.37)          The Woman in the Yard (TWITY) 1385 18.40 (-0.05)          Fing (FING) 150000 6.83 (+1.14)          Until Dawn (UDAWN) 149999 28.94 (-0.11)          Superman (SUPRM) 3 250.21 (-1.00)          Superman (SUPRM) 3 250.21 (-1.00)          Death Of A Unicorn (DUNIC) 1 13.15 (+0.16)          Sing 3 (SING3) 2 89.46 (-1.79)          Death Of A Unicorn (DUNIC) 150000 13.15 (+0.16)          Wuthering Heights (WUTHR) 150000 36.56 (-1.31)          The Moment (MOMNT) 1 15.03 (+1.24)          Cate Blanchett (CBLAN) 25000 10.76 (-0.19)          Sing 3 (SING3) 150000 89.46 (-1.79)          Cate Blanchett (CBLAN) 24950 10.76 (-0.19)          Superman (SUPRM) 3 250.21 (-1.00)          Superman (SUPRM) 3 250.21 (-1.00)          Eden aka Origin Of Species (OSPEC) 149999 14.20 (+0.37)          Barbarella (BARBA) 1 45.25 (+1.98)          Barbarella (BARBA) 150000 45.25 (+1.98)          The Luckiest Man in America (PLUCK) 10 4.37 (+0.32)          The Luckiest Man in America (PLUCK) 10 4.37 (+0.32)          Eden aka Origin Of Species (OSPEC) 3 14.20 (+0.37)          Eden aka Origin Of Species (OSPEC) 3 14.20 (+0.37)          The Friend (FREND) 10 4.06 (+0.35)          The Batman: Part II (TBAT2) 4239 242.59 (-0.41)          The Friend (FREND) 10 4.06 (+0.35)          Shadow Force (SHDWF) 3 12.12 (+0.37)          Shadow Force (SHDWF) 3 12.12 (+0.37)          The Thomas Crown Affair (TTCAF) 1 15.50 (+0.45)          The Thomas Crown Affair (TTCAF) 1 15.50 (+0.45)          The Smashing Machine (SMACH) 3 17.58 (+0.66)          The Smashing Machine (SMACH) 3 17.58 (+0.66)          & Sons (ASONS) 2 5.52 (+0.78)          & Sons (ASONS) 2 5.52 (+0.78)          Bear Country (BEARC) 3 14.86 (+0.87)          Bear Country (BEARC) 3 14.86 (+0.87)          Fing (FING) 2 6.83 (+1.14)          Fing (FING) 2 6.83 (+1.14)          The Sims Movie (TSIMS) 149999 58.71 (-2.37)          The Moment (MOMNT) 2 15.03 (+1.24)          The Moment (MOMNT) 2 15.03 (+1.24)          David (DAVID) 149999 51.66 (-0.04)          The Batman: Part II (TBAT2) 79238 242.59 (-0.41)          The Sims Movie (TSIMS) 150000 58.71 (-2.37)          The Sims Movie (TSIMS) 1 58.71 (-2.37)          David (DAVID) 150000 51.66 (-0.04)          Bad Fairies (BFAIR) 149999 45.74 (+0.14)          Spider-Man: Beyond the Spider-Ve (ASPD3) 149999 200.80 (+0.33)          Avengers: Secret Wars (AVNG6) 25000 464.34 (+0.65)          The Sims Movie (TSIMS) 50000 58.71 (-2.37)          Shadow Force (SHDWF) 149999 12.12 (+0.37)          The Woman in the Yard (TWITY) 1385 18.40 (-0.05)          Fing (FING) 150000 6.83 (+1.14)          Until Dawn (UDAWN) 149999 28.94 (-0.11)          Superman (SUPRM) 3 250.21 (-1.00)          Superman (SUPRM) 3 250.21 (-1.00)          Death Of A Unicorn (DUNIC) 1 13.15 (+0.16)          Sing 3 (SING3) 2 89.46 (-1.79)          Death Of A Unicorn (DUNIC) 150000 13.15 (+0.16)          Wuthering Heights (WUTHR) 150000 36.56 (-1.31)          The Moment (MOMNT) 1 15.03 (+1.24)          Cate Blanchett (CBLAN) 25000 10.76 (-0.19)          Sing 3 (SING3) 150000 89.46 (-1.79)          Cate Blanchett (CBLAN) 24950 10.76 (-0.19)          Superman (SUPRM) 3 250.21 (-1.00)          Superman (SUPRM) 3 250.21 (-1.00)          Eden aka Origin Of Species (OSPEC) 149999 14.20 (+0.37)          Barbarella (BARBA) 1 45.25 (+1.98)          Barbarella (BARBA) 150000 45.25 (+1.98)          The Luckiest Man in America (PLUCK) 10 4.37 (+0.32)          The Luckiest Man in America (PLUCK) 10 4.37 (+0.32)          Eden aka Origin Of Species (OSPEC) 3 14.20 (+0.37)          Eden aka Origin Of Species (OSPEC) 3 14.20 (+0.37)          The Friend (FREND) 10 4.06 (+0.35)          The Batman: Part II (TBAT2) 4239 242.59 (-0.41)          The Friend (FREND) 10 4.06 (+0.35)          Shadow Force (SHDWF) 3 12.12 (+0.37)          Shadow Force (SHDWF) 3 12.12 (+0.37)          The Thomas Crown Affair (TTCAF) 1 15.50 (+0.45)          The Thomas Crown Affair (TTCAF) 1 15.50 (+0.45)          The Smashing Machine (SMACH) 3 17.58 (+0.66)          The Smashing Machine (SMACH) 3 17.58 (+0.66)          & Sons (ASONS) 2 5.52 (+0.78)          & Sons (ASONS) 2 5.52 (+0.78)          Bear Country (BEARC) 3 14.86 (+0.87)          Bear Country (BEARC) 3 14.86 (+0.87)          Fing (FING) 2 6.83 (+1.14)          Fing (FING) 2 6.83 (+1.14)          The Sims Movie (TSIMS) 149999 58.71 (-2.37)          The Moment (MOMNT) 2 15.03 (+1.24)          The Moment (MOMNT) 2 15.03 (+1.24)          David (DAVID) 149999 51.66 (-0.04)          The Batman: Part II (TBAT2) 79238 242.59 (-0.41)          The Sims Movie (TSIMS) 150000 58.71 (-2.37)          The Sims Movie (TSIMS) 1 58.71 (-2.37)          David (DAVID) 150000 51.66 (-0.04)          Bad Fairies (BFAIR) 149999 45.74 (+0.14)          Spider-Man: Beyond the Spider-Ve (ASPD3) 149999 200.80 (+0.33)          Avengers: Secret Wars (AVNG6) 25000 464.34 (+0.65)          The Sims Movie (TSIMS) 50000 58.71 (-2.37)          Shadow Force (SHDWF) 149999 12.12 (+0.37)          The Woman in the Yard (TWITY) 1385 18.40 (-0.05)          Fing (FING) 150000 6.83 (+1.14)          Until Dawn (UDAWN) 149999 28.94 (-0.11)          Superman (SUPRM) 3 250.21 (-1.00)          Superman (SUPRM) 3 250.21 (-1.00)          Death Of A Unicorn (DUNIC) 1 13.15 (+0.16)          Sing 3 (SING3) 2 89.46 (-1.79)          Death Of A Unicorn (DUNIC) 150000 13.15 (+0.16)          Wuthering Heights (WUTHR) 150000 36.56 (-1.31)          The Moment (MOMNT) 1 15.03 (+1.24)          Cate Blanchett (CBLAN) 25000 10.76 (-0.19)          Sing 3 (SING3) 150000 89.46 (-1.79)          Cate Blanchett (CBLAN) 24950 10.76 (-0.19)          Superman (SUPRM) 3 250.21 (-1.00)          Superman (SUPRM) 3 250.21 (-1.00)          Eden aka Origin Of Species (OSPEC) 149999 14.20 (+0.37)          Barbarella (BARBA) 1 45.25 (+1.98)          Barbarella (BARBA) 150000 45.25 (+1.98)          The Luckiest Man in America (PLUCK) 10 4.37 (+0.32)          The Luckiest Man in America (PLUCK) 10 4.37 (+0.32)          Eden aka Origin Of Species (OSPEC) 3 14.20 (+0.37)          Eden aka Origin Of Species (OSPEC) 3 14.20 (+0.37)          The Friend (FREND) 10 4.06 (+0.35)          The Batman: Part II (TBAT2) 4239 242.59 (-0.41)          The Friend (FREND) 10 4.06 (+0.35)          Shadow Force (SHDWF) 3 12.12 (+0.37)          Shadow Force (SHDWF) 3 12.12 (+0.37)          The Thomas Crown Affair (TTCAF) 1 15.50 (+0.45)          The Thomas Crown Affair (TTCAF) 1 15.50 (+0.45)          The Smashing Machine (SMACH) 3 17.58 (+0.66)          The Smashing Machine (SMACH) 3 17.58 (+0.66)          & Sons (ASONS) 2 5.52 (+0.78)          & Sons (ASONS) 2 5.52 (+0.78)          Bear Country (BEARC) 3 14.86 (+0.87)          Bear Country (BEARC) 3 14.86 (+0.87)          Fing (FING) 2 6.83 (+1.14)          Fing (FING) 2 6.83 (+1.14)          The Sims Movie (TSIMS) 149999 58.71 (-2.37)          The Moment (MOMNT) 2 15.03 (+1.24)          The Moment (MOMNT) 2 15.03 (+1.24)          David (DAVID) 149999 51.66 (-0.04)          The Batman: Part II (TBAT2) 79238 242.59 (-0.41)          The Sims Movie (TSIMS) 150000 58.71 (-2.37)          The Sims Movie (TSIMS) 1 58.71 (-2.37)          David (DAVID) 150000 51.66 (-0.04)          Bad Fairies (BFAIR) 149999 45.74 (+0.14)          Spider-Man: Beyond the Spider-Ve (ASPD3) 149999 200.80 (+0.33)          Avengers: Secret Wars (AVNG6) 25000 464.34 (+0.65)          The Sims Movie (TSIMS) 50000 58.71 (-2.37)          Shadow Force (SHDWF) 149999 12.12 (+0.37)          The Woman in the Yard (TWITY) 1385 18.40 (-0.05)          Fing (FING) 150000 6.83 (+1.14)          Until Dawn (UDAWN) 149999 28.94 (-0.11)