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Technology Stocks : Dell Technologies Inc.
DELL 133.92-4.9%Nov 13 3:59 PM EST

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To: GVTucker who wrote (169675)5/20/2002 12:03:17 PM
From: D.J.Smyth  Read Replies (2) of 176387
 
Mr. Tucker
Thanks for your, as always, fomidable analysis.

Average daily volue in Dell is 24 million shares.

Average trade cost to shareholder per 100 share trade is $48 (per WS records)

2.4million X $53 does not equal $270,000. Even if you use the 1.2 million figure (50/50 quotient, that is, 50% actual shareholders, 50% "WS/mm"), $270,000 is not a number at which you arrive.

These figures do not include the "opposite side" of the trade mm's make/take relative to profiting from their own book.

How are you coming up with $270K in relationship to total daily cost to the shareholder?

Many times, the positions taken by various WS firms are masked relative to their own option activity. A net put position representing 40 million shares is not reported; only the 25 million long position. So, if you have access to these firms option activity, then possibly you can tell us about it...
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