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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (34452)	10/23/1998 6:32:00 PM
From: miklosh	Read Replies (2) of 132070

Hi Mike, I cross-posted this on the amat thread. Could you let me know what you think? From options-iri.com : Applied Materials (AMAT; option root ANQ - 32-13/16) – Far-Sighted AMAT is moving higher today after reporting its fourth-quarter outlook. Interestingly, the January 42-1/2 call strike is the most active for AMAT. Typically, front-month options take the lead in volume following earnings news. Three separate blocks of 1,000 contracts and one 500-contract block were executed this morning between the bid and the ask. What do you make of this heavy options trading for the Jan 42 1/2 call? Could this be interpreted as some heavy hitters are saying that amat continues to run up from here? Personally I'm quite surprised at the volume on such a far out of the money call after the run amat's already had. In general, is a heavy buildup of interest on an out of the money option a usefull indicator? Thanks miklosh ps. Mik's a good nickname btw Miklosh is Michael in Hungarian<g>

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