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Technology Stocks : PairGain Technologies

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To: ENOTS who wrote (20824)	2/20/1998 4:37:00 PM
From: Jay Mowery	Read Replies (2) of 36349

ENOTS, It will! Too many Feb. 20's floating around out there 5362 open interest Feb. 20 calls last sale price 1/2. If I'm addin' right that says if we close at 20 1/2 with doubt on PAIR's strenght. How many will be exercised on even money? Which as I understand it means, you gotta fork over the dough on the stock to keep the Feb. game alive! I doubt many people will do that when you can buy more options for a whole lot less money! Just my guess ENOTS but the MM's will get probably all the dough and the options on the Feb 20's AND 22.5's of which there are 2262 on open interest. That means they pull in 7625 options that will expire worthless! Not a bad days work for them! ENOTS I'm not sure if this is right maybe someone else can confirm this! But if I'm getting this right! The MM's will only have to come close to the 20 number to collect. I would figure they know what price they have to land on at the close to collect on the expired options! Just my guess, Jay PS. Somebody in history said, "KNOW YOUR ENEMY!!" It usually pops into my head every third Friday of the month! Hopefully I'm beginning to do that!!

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