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Technology Stocks : Dell Technologies Inc.

DELL 127.22

+3.8%

3:59 PM EST

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To: Gary Wisdom who wrote (43950)	5/20/1998 9:37:00 PM
From: PAL	Read Replies (1) of 176387

Anyone see this in WSJ on Dell puts today? Seems like Mike is buying back stock. Bear Stearns reportedly bought more than 25,000 of Dell Computer Corp.'s (DELL) out-of-the money November 55 puts, a trader at the Philadelphia Stock Exchange said. The reasoning behind the trade isn't immediately available, but it's possible that these contracts are being sold as part of a corporate-stock buyback program. Other large technology companies have been known to use options to supplement buybacks. The trader said he believes that it is the largest trade that has ever been made in Dell's options. Does Dell expect the stock to drop to 55 before a buy back? Why so far out of the money? Or Dell just want some easy money 25000 time 100 times $ 1.875 equal to $ 4.6 Million. More likely the put will expire worthless. Any comments?

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