Teaching 29 to a derivatives guy

Now, this was going to be fun....Firday nite..and me unusually late in office....nevertheless determination knows no bound and i knew that i wouldnt screw up my weekend welcome by sitting at my apartment and watching Altaf Raja in his new avtaar crooning alongwith a bunch of semi-nude females imitating a-la Demi Moore gyrating infront of a salivating Burt Reynolds in Striptease.... So, moi sent a couple of sms'es..the typical....kya scene and as luck would have it, found some folks ready to come down for a round (and some more) of beer and a game of cards.... KG and his juny (and our new found friend from F-17, Viay Gupta) confimed their presence...Atul and Rajesh were alredy there..KG would be coming late..which meant that till midnite we had to play 29...but one guy had to be taught...and it had to be Vinay...Atul took the onerous task of doing that...one Private Equity guy teaching a Derivatives guy,,,,how to play 29....check it out..snippets of the conversation... Atul: Party, u start bidding from 16 and go upto 29...or 32.. Vinay: U mean 16 is the floor and 29/32 is the cap.. Atul:..aree mast.....dekh, u bid based on your 4 cards and the remaining 4 will come later Vinay: Mane ki...call option Atul:...mache diye ho....agar kismat achi chal rahi hai to colour banate rahna chahiye.... Vinay: haan haan, duniya bull run main paise banati hai... Atul: acha sun....u should also see samne wala kaise colour banata hai..etc etc Vinay: aree wahi na..refer to technical analysis for past behaviour Atul: ekdamn sahi...dekh, agar samne wala ka risk appetite jyada hoga to woh gande cards main bhi colour banayega.... Vinay: aree haan re, hedge fund aur private equity investment main difference to hota hi hai Atul: 7th card ka bhi funda hota hai....but its very risky.. Vinay: bola to, selling a call option in a bull market.... Atul: but agar woh single card nikla to u can change the card Vinay: matlab hedging available hai.... And so the discussion went on...Vinay learnt a great deal and we were swamped with words like market skimming, call/put, hedging etc etc and for us it was ...as they said in Indore..machau