Options 201: Beyond Obi-Wan-Kenobe Message Board

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Strategies & Market Trends : Options 201: Beyond Obi-Wan-Kenobe

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To: Dan Duchardt who wrote (816)	3/20/2003 12:35:56 PM
From: Allen Furlan	Read Replies (1) of 1064

Hi Dan. Can you give me your thoughts on the following. I have been selling the cpn 2005/2.5 puts short, on and off,for the past several weeks. My average price is 1.5. This is much too rich for a 3 dollar stock with the volatility of cpn. However I have been surprised to see blocks of 100 or 200 going off almost every day and the bid/ask size has been 100/100 by both pacific and ISE. After calling the pacific exchange the only explanation I get is that is what the market makers policy is. Do you know of any way to get an honest insight into what is driving the price setting level? I would load up the boat, except what is too good to be true is probably not true. My assessment is that cpn will survive and if so the return of 1.50 for a 30 cent margin commitment is a great sell.

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