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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 221.24

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3:59 PM EST

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To: Andeveron who wrote (6505)	6/18/1998 12:05:00 AM
From: Jan Crawley	Read Replies (2) of 164684

Yes, the person left holding the option at expiry is the market maker, who makes the market in options - he buys, he sells, he clears the table at expiration and makes sure that any open options are closed out. He does not have to exercise. My recollection of Macmillan's book isn't what it used to be but this was the gist of it. However, the market makers do buy/short stocks in the open market to adjust his inventory?? If more calls are to be closed, then selling pressure Monday after? Ty

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