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Strategies & Market Trends : Tech Stock Options

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To: j g cordes who wrote (21605)	9/1/1997 11:32:00 PM
From: Alan Smithee	of 58727

Jim: On your comment to BAP - The other thing you want is good liquidity in the trading. I remember once getting a computer sort break out stock, buying a 100 of the calls only to find that I was the total open interest for over a month. Not a good situation. The guy who set the price on my option was totally unyielding when I tried to divide the bid/ask... to get out. You want contracts that are regularly traded where you can get some edge on each side to lower your overhead and risk. I agree with you on this. I have Oct. COST 35 ITM calls. In the past week, I put in sell orders twice between the bid and ask, with no sale. On Friday, the bid dropped at a time there was no movement in the stock itself. If one was a proponent of the MM manipulation theory, you could conclude that the MM were moving the price away when someone (not me, by the way) was trying to close a position. Hope you had a good weekend. It's been beautiful in the N.W. I spent the better part of the weekend digging dry rot and moisture ants out of a support in my garage and rebuilding what I tore out. I'm quite stiff. David

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