Smarter Money: A Puts Primer, Part 2
Now, let's say that you are an institution and you want thousands of puts because it simply doesn't help you to have less. You can't make enough money. You want to make a big bet against the Cramer Tech Wreck index.
Do you think you can go in and buy 1,000 puts the same way you buy 10 puts? Absolutely not. And this is where the market impact comes in. You need help to get that trade done.
You need "help." I put quotes around the word "help" because that is actually a term of art in this business. It is also known as "facilitation." You need a brokerage house 
to manufacture that put for you in size. The exchange where the index might be located will make a decent market in the Cramer Tech Wreck index for only about 100 puts. Once that level is exceeded, you are on your own. ...
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