Single trace operators with the large R-charge in supersymmetric Yang-Mills
theory correspond to the null-surfaces in AdS5×S5. We argue that the
moduli space of the null-surfaces is the space of contours in the
super-Grassmanian parametrizing the complex (2∣2)-dimensional subspaces of
the complex (4∣4)-dimensional space. The odd coordinates on this
super-Grassmanian correspond to the fermionic degrees of freedom of the
superstring.Comment: v4: added a reference to the earlier work; corrected the formula for
the stabilizer of the BMN vacuum; added the discussion of the complex
structure of the odd coordinates in Section 3.