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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (89210)	2/5/2001 2:25:07 PM
From: ild	Read Replies (1) of 132070

Semiconductor firm Micron Technology is home to some heavy call options activity despite today's 7.5 percent sell-off. A 4,000-contract block of the out-of-the-money February 40 calls crossed the tape near the ask for a total value of $880,000. As the February options series is set to expire in two weeks, this is an extremely aggressive play. Technically speaking, the equity declined back to potential support at the site of its descending 10-week moving average. I'd think somebody has sold covered calls. What do you think? Who could be on the other side of the trade? I think if it was a sell it should have depressed the stock price. If the specialist bought the calls then he should have shorted the stock. Am I wrong? Thanx - ild

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