How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 475.59

+0.7%

1:16 PM EST

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To: Jill who wrote (28973)	9/1/1999 3:00:00 PM
From: Gerald Walls	Read Replies (4) of 74651

It appears that Microsoft is selling Puts again: Microsoft Puts Heat Up Competition Among Options Exchanges By Erin Arvedlund Staff Reporter 9/1/99 1:53 PM ET thestreet.com Excerpt: Early this morning, Microsoft stock was trading at just over 92. Then at about 10:33 a.m. EDT, Susquehanna traded about 54,000 Microsoft 2002 January 70 puts at a price that clocked in at 6 1/8 ($612.50) per contract, down 1/8 ($12.50). That the order flow went to the Chicago floor was a triumph in itself as the CBOE tries to capture Microsoft traffic from the Pacific Exchange, where the company's options traded exclusively, for the most part, until last week. At the same time, about the same number of 2001 January 62 1/2 puts were sold at 2 13/16 ($281.25) down 3/16 ($18.75). Open interest totaled a staggering 142,500 contracts in that strike, indicating another roll could be in the works. A few minutes later in San Francisco, the Pacific Exchange also crossed a 13,000-contract block of Microsoft September 120 puts and January 90 puts as part of a separate "reverse conversion" trade.

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