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Just a stupid question to make sure I get this right ... am I correct to understand that:

S.MPOE-PT is a "security", traded on the btct.co platform. The security is a passthrough for another security, S.MPOE, traded on another security platform MPEX. I am now a bit unclear whether S.MPOE shares represent either:

  1. Ownership ow MPEX itself
  2. Or an actively-traded fund that ... does what exactly? Day trades BTC? Day trades other shares on MPEX?

It's a been hard to follow for a newcomer, so I'd love if someone ELI5 and point out any gaps in my understanding.

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According to the description in http://mpex.co/?mpsic=S.MPOE, S.MPOE are shares in MPEx traded on MPEx itself. S.MPOE-PT are a passthrough to those shares traded on btct.co.

You have linked to a forum thread discussing MPOE ETF, which is unrelated - it was a passthrough, traded on GLBSE, to a previous incarnation of MPEx shares, which apparently were privately issued.

MPOE (Mircea Popescu's Options Emporium), by the way, is the older name of MPEx (Mircea Popescu's Exchange).

Your confusion seems to have been caused by being unaware of the interchangeability of MPOE and MPEx, and matching assets by their reference to "MPOE" without distinguishing how precisely they relate to MPOE/MPEx.

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