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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: Dan Duchardt who wrote (11569)	9/20/1999 10:03:00 PM
From: Dan Duchardt	Read Replies (2) of 14162

IFMX: The volume was up big today on IFMX (over 5,000,000 shares) and also on the Oct10 calls (3,116 Oct10 contracts sold on a day that started with open interest at 1,723). Substantial volume on the 10 and 12_1/2 calls for the next few months also. Through January there is now about 15,000 open interest on the 10s. The Jan10 puts number just over 2,000 so maybe not everyone is convinced, but those have been open for a while. Overall, calls outweigh puts about 5:1. Almost no put buying recently. Looks like heavy sentiment for IFMX breaking 10 this month. A question for those of you with a better understanding of the market dynamics and mechanisms related to options. There was a heavy mid-day sell off of IFMX that took the stock down from 9 to 8_1/2 in the space of 15 minutes involving almost 1/2 million shares. Is there likely a connection between that event and the heavy call volume we saw today (mostly in the morning). Would/could the MMs stimulate that kind of action by doing whatever it is they do when faced with such an active options market, or are the two things not connected? Dan

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