Post-1987 German options skew ran opposite to the U.S. skew

Evidence

The German options market did manifest a skew after 1987, but it was opposite in direction to that in the U.S. (Bates 2000, p. 225). — Donald MacKenzie, An Engine, Not a Camera, 1590

Categorization

• XREF: connects to: The post-1987 volatility skew became a permanent feature of index options — Donald MacKenzie, An Engine, Not a Camera: How Financial…, 901; The post-1987 options skew was primarily an American rather than global phenomenon — Donald MacKenzie, An Engine, Not a Camera: How Financial…, 921; The skew’s persistence after 1987 undermines the discovery narrative of option pricing — Donald MacKenzie, An Engine, Not a Camera: How Financial…, 1163