Yes I think this was covered when OEX announced the arrangement with devil; AKA Darwin. Darwin are well known for making money both ways to the detriment to the small time holder. However if they have been aggressively shorting OEX won't they need to cover their shorts? I haven't seen any short covering rallies if I am reading the chart correctly.
OK Pessimists... Time to Harden Up !, page-18
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