General Instrument Corp.'98 (GIC) Message Board

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Technology Stocks : General Instrument Corp.'98 (GIC)

GIC 31.40

-0.8%

Jan 16 9:30 AM EST

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To: matt gray who wrote (224)	4/5/1998 10:08:00 AM
From: John F. Dowd	Read Replies (2) of 615

Dear Matt: I think the whole trade was done by traders who were swapping exposures. I really don't see how people like you and I could move this amount of contracts and not have the price move very much. As you can see the 4800 contracts of Apr. have diminished to 2800. I think you meant to say May and not mar. in your scenarios which would just transpose the logic of your scenarios. It indeed is all very puzzling but it indicates some increased interest in the underlying stock. It is hard to tell if it is for the better or the worse. I will be watching it closely. Matt do you know how you go about exercising an option i.e. forcing the person (market maker) who sold you the option to deliver the stock? Do you just tell your broker on Friday that you want to exercise? Sounds naive but in 23 years I have never done it and I am thinking of doing it this time around. I bought the April 20's pretty cheap and don't want to take the gain just yet. Of course they could knock the stock back but I think under the American system they have to deliver any time it is called before the expiration date. Regards, John Dowd

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