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Technology Stocks : All About Sun Microsystems

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To: Ben Antanaitis who wrote (10901)	8/19/1998 2:28:00 PM
From: Thomas W. Fox	Read Replies (1) of 64865

Ben, Notlong ago someone bought a ton of Aug 50 calls--around 16-18000 contracts I think. This was when the IBM rumor was floated. I see that nearly 16000 contracts are still open and SUNW is trading just over $50. If we assume that a high percentage of those calls were sold short and if SUNW can stay ~$51 till Friday; won't that trigger a lot of buys of options to close, or the purchase of a lot of shares to make delivery on assignments? I'm kind of a rookie at this option thing so excuse my ignorance. Is it likely that the MM if he is short all of those calls will do whatever he can to keep SUNW at 50 or less? Regards

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