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Technology Stocks : Cymer (CYMI)
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To: Jess Beltz who wrote (4020)9/28/1997 11:55:00 PM
From: nycnpbbkr   of 25960
 
Jess

The fact is that I do trade and it's usually options. I printed the first Cymer option print ever and have been trading them ever since. I never comment on my option postions because of strange past experiences.
Option volume is missunderstood. Someone posted a week or so ago about all the volume in the Oct 35 calls and thought it was a bullish sign. I knew that volume was created that day by my writing covered calls. I still will not speak of my option positions but I generally consider open interest to be a contrary indicator(Becuase most people really do lose money on options). At this point I would compare the Oct 25 puts against the Oct 25 calls because even the bears believe the bottom is close. It also looks like people believe that the 20's & 15 puts are either too far out of the money or too expensive. Hint: Jess check if the open interest has been falling and the volume rising on the 25 and 30 calls over the last couple of trading days, if so I believe that smart money is covering their writes.
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