Win Lose or Draw : Be A Steve, Make A Call Message Board

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Strategies & Market Trends : Win Lose or Draw : Be A Steve, Make A Call

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To: Jeffrey S. Lillie who wrote (798)	2/6/2003 12:37:16 PM
From: Softechie	Read Replies (1) of 11447

*11:06 (Dow Jones) The ratio of puts traded to calls jumped substantially Thursday morning - normally a sign of extreme bearishness that contrarians see as a bullish signal. But hold it! The extraordinarily heavy put volume was accounted for by an unusually large trade involving long-term puts on the QQQ, or Nasdaq 100 Tracking Stock, that will expire 2005. An institutional investor unwinding a put spread installed earlier this week has sold more than 300,000 contracts of the January 2005 45 puts today, skewing the sentiment indicator. Currently, the equity put/call ratio is 1.49 across five exchanges and 2.95 at the CBOE - the highest it has been in years. (KT)

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