Bermuda Option Triangle

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Myths and legends of the market
The JC’s guide to the foundational mythology of the markets.™
Bermuda Option Triangle.png
Some cash-settled equity options being pulled into the vortex yesterday. (von Sachsen-Rampton, 1952)
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The area of the equities markets, characterised by magnetic personalities, irrational fears and a total lack of modernising momentum, in which reforming idealists so frequently come to grief. But, curiously, only once a month, or on the expiry date.

In late June 2011 —yes, on a Reset Date — a squadron of Linklaters FPML Avenger syntax bombers, on a routine redrafting mission for the 2011 Equity Derivatives Definitions, disappeared after encountering text navigation issues. The mission encountered unprecedented levels of clear-air tedium, their financial instruments went haywire, they eventually lost contact with reality altogether and, running low on credibility after several hours struggling to maintain attitude, and it is believed they ditched in the Synthetic Sea west of the Florida Keys.

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