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Strategies & Market Trends : Option Spreads, Credit my Debit
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To: jjs_ynot who wrote (1031)11/14/1999 5:38:00 PM
From: James F. Hopkins  Read Replies (1) of 2317
 
Dave; If you looked at the options on this stock I think you would
see ( if you think about it for a moment ) 1 they are not very
liquid, 2= this 7K @25 and &7K at 30 adds up to a bigger trade than all the open interest of all the others strikes all added up
and put together..It didn't just happen because some person or
fund made an independent decisions.. This was negotiated ahead
of time You can't just jump up and get someone to take the
other end of a bet of his size on options that don't
trade very much to start with. And you can't hope to just market
this many calls later; not if your not crazy.
There was talk between the two parties..and it is most likely
insiders who are willing to let the stock go at that price..
but can use the call money meanwhile.
To buy those calls to maintain a position while selling would
be nuts. In fact I doubt there is any Specialist who would
sell that many calls, that has to be someone who has the stock,
and it don't look like they are giving it away.
--------------------
The Tax thing makes sense if this is someone who sold back
in Sept , wanting to get back in..the wash period has expired
also it all points toward more buying pressure than selling
pressure.
Enough said I saw this option trade by accident, & wasn't even
looking to find it..I don't have a position in SDS , don't know
anything about the company, but I do know I like what I see on
this bet;; good enough to not mess around, I'm bidding on the
open friend, had I saw it Friday I would have already bought.
<G>
Jim
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