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Technology Stocks : Silicon Graphics, Inc. (SGI)

SGI 91.87

+1.8%

Dec 5 9:30 AM EST

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To: Bill Holtzman who wrote (3852)	12/20/1997 8:42:00 PM
From: Mathon Dabasir	Read Replies (1) of 14451

Bill, thanks for chiming-in on the topic of SGI options... I knew you would! :) >>You imply that the Jan 12 1/2 puts were "bought." You or I or anyone could sell them instead if we are bearish.<< I humbly contend, if anyone -sells- the JAN 12 1/2 PUTs they're -bullish- because a) they feel the stock is going up and the PUTS will expire worthless, or b) they wouldn't mind being PUT the stock at 12 1/2 should the price indeed drop. >>The specialist would buy them and set up a neutral position by selling the stock short. This action could then be interpreted as a bottom.<< I agree. Because the market for SGI PUTs is so good, the specialists must have bought shares yesterday to cover their positions. <btw> I'm giving the same kind of covered play serious consideration myself right now. Tho, the high PUT/CALL ratio scares me a bit. That's a lot of negative bias. Your thoughts?? Mathon

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