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Technology Stocks : Apple Inc.

AAPL 270.82

-1.0%

3:59 PM EST

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To: X-Ray Man who wrote (11595)	4/16/1998 1:53:00 PM
From: Sam Scrutchins	Read Replies (1) of 213177

X, The 20,000 or so April calls outstanding at 25 and 27.5, represent about 2 million shares. With almost 13 million traded today, don't you think the buyers and sellers of the stock would render those options positions meaningless as far as being a factor in where the MM's try to place the stock on Friday? Thanks for your reply. Addendum: With the action in the stock today, I'm beginning to think that these MM's have made a killing. First they sell a bunch of shares (maybe 2 million at 29 1/2), then they slowly drop the price to accumulate many more million at a point less, replenishing their inventory. Now they are raising the price to dump some more. We may yet see 30 today. Sam

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