Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: ratan lal who wrote (16691)	4/16/1998 5:51:00 PM
From: Marq Spencer	Read Replies (1) of 94695

Ratan, A couple of interesting facts to note. As of today's close, the SPX May 1050 Put was 8 1/8 bid, 8 3/8 ask (with over 11,000 contracts traded today). However, the SPX May 1160 call was at $4. It appears that the option buyers consider a 60 point move down much more likely than a 50 point move up! The volume for the puts was 50 times the volume for the calls. I agree with RWS that we might see the SPX bounce to 1115 or so tomorrow. If, after that, if it gets below 1109, we could see 1090 next week. BWDIK. - Brian.

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