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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Spartex who wrote (23359)8/4/1998 10:41:00 AM
From: George Lazar  Read Replies (1) of 42771
 
It is not THAT simple. It is perfectly possible that someone is BUYING JAN99 15 calls (or 17.5 calls) and hedging it by SELLING 20 calls. This is a very common strategy of professional option traders - called bull spread.

The Open Interest number is basically meaningless.... it doesn't tell you direction.

-george
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