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To: randy kay who wrote (31988)	12/26/1997 3:25:00 PM
From: David Weis	Read Replies (3) of 58727

Hi Randy --- the short answer is not necessarily... Let me give you 3 examples which will explain. 1) If I owned 10 Call contracts....I could sell them. You could be the buyer. The OI is the same. 2) If I owned 10 Call contracts which you had opened. I could sell them. You could buy them back, thus closing your Covered Call that you wrote. OI would drop by 10. 3) The OI is 500. I buy 10 Call contracts from someone Opening a Covered Call. The OI is now 510. TT, Kevin, lisa, anolan, OJ, Rick, jim, anyone......how did I do?? Corrections and comments welcomed. David

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