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To: Joseph G. who wrote (3105)	7/21/1998 9:37:00 AM
From: IceShark	Read Replies (1) of 86076

Joe, Judging from in the money puts, nearly all AMZN float is shorted by option MMs to hedge puts sold. Trying to understand what is really happening, wouldn't that only apply to the CBOE boys that are playing for their own account? Do they get some sort of special deal, similar to equity MMs, to just short stock without actually having any shares to sell? Anyway, I have concluded that it is absolutely impossible to predict AMZN's stock price action, given all the cross currents until more shares get into the free float. A good chance they will also split tomorrow. Seeing they are "only" up 750% and tulip bulbs went up 5900%, I'll keep my chair on the sidelines. Regards, DWW

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