What is the capital of ct?

As LTCM's capital base grew the need for additional returns on that expanded capital led it to undertake other trading strategies. Although these trading strategies were non-market directional, i.e. they were not dependent on overall interest rates or stock prices going up (or down), they were not convergence trades as such. By 1998 LTCM had extremely large positions in areas such as merger arbitrage and S&P 500 options (net short long-term S&P volatility). In fact some market participants believed that LTCM had been the primary supplier of S&P 500 gamma which had been in demand by US insurance companies selling equity indexed annuities products for the prior two years.