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Strategies & Market Trends : Tech Stock Options

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To: MonsieurGonzo who wrote (34029)	1/24/1998 11:43:00 PM
From: sergio	Read Replies (1) of 58727

Just wondering if anyone noticed the 12,000 contract traded on OXY Feb98 35 puts. biz.yahoo.com During the day I saw this as two trades at 6,000 a piece. However, I checked again today Saturday and this has been reduced to 2,000 contracts only. What happened? Was the 10K busted? I was curious if this was done by an arbitrageur, since at that time when I noticed the trade, OXY was trading at 25 5/8 by 3/4 bid the Feb35 Puts were at 9 1/8 by 9 3/4, and no block of stocks traded. I would've expected the arbitrageur selling the puts (due to below parity) and sold the shares for a locked in profit. I guess only large traders can spot this "below parity" trades. By the way the lots of the options on OXY are near parity I would say by about 1/4. Sergio

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