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Technology Stocks : Micron Only Forum

MU 232.59

-2.1%

3:59 PM EST

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To: Skeeter Bug who wrote (24145)	11/15/1997 4:04:00 PM
From: Peter Shaw	Read Replies (1) of 53903

Skeeter, The option volume you cite as telling is far less bearish than you think. If MU showed signs of a short term bottom, Put owners were rushing to close their contracts, hence the large voulume of trades. Check the open interest next week to find out if this is true. If it was all put buying, than the put/call ratio is so high that it is a classic contrarian signal (as Marty Zweig designed it to be). Either way, it is a bullish indication to me, and I would expect a little upside bias over the next few days if this was the only indicator to follow. Good Luck, Peter Shaw

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