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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments
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To: Yamakita who wrote (4272)10/17/1998 10:31:00 AM
From: drakes353  Read Replies (2) of 18998
 
Yamakita:

The Nov 75 puts on PVN got whacked 25 points yesterday, ending Thursday at 32, and today at 6.5. That screams for at least a small hook to be thrown into those turbulent waters.

You're reading too much into the sporadic trading of an illiquid option contract. The PVNWOs hadn't traded for days and the $32 print was being carried as the "last" even though it was well away from the true market. Not saying PVN isn't a great short, just find another reason to do the trade.

drakes353
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