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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: MrGreenJeans who wrote (7435)8/3/1999 6:25:00 PM
From: SMALL FRY  Read Replies (2) of 15132
 
Hi,

Sorry to interject but the subject HWP Aug115 out of the money calls may be a product of the CNBC erroneus information mill. There were 6700 contracts traded at 3:26PM EST which I assume are closing trade to open call positions from the following chart:

quote.cboe.com

If it was an opening trade, it goes to reason that the open interest column would reflect a number greater than the 6700 transacted... as it is, open interest is only 1074. My guess is that the buyer closed an open call position sold btwn 4 - 8 when HWP was in 120's to take profit... the transaction was consummated 1/8 above the ask price.

Thanks for your time,
SF
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