Ray Wollney

Another Macroshares Oil Arbitrage Opportunity

I don't know if this hedge has any merit or not.

What I do know is that it is not an arbitrage.

An arbitrage is the simultaneous buying and selling of the same security or commodity in different markets to make an immediate, RISKLESS profit.

"However, I only took advantage of it in a small way because this is by no means a RISK FREE trade.

That statement should automatically tell you this is not an arbitrage.

To use arbitrage to describe this trade is an oxymoron.

It is at best a hedge.