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Non-Tech : MBK---------Bank of Tokyo Mitsubishi Ltd

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To: Lucretius who wrote (98)11/3/1998 9:53:00 AM
From: Paul Berliner  Read Replies (2) of 170
 
Thread: don't always expect the NYSE ADRs to reflect what happened
overnight abroad. I've been screwed a couple of times when buying puts or calls on ADRs. A couple of months back (July I think), I was holding in the money puts on Philippine Long Distance. Overnight, the Manila composite slipped 7%. PHI, which was at about 23, opened down less than 1/4 the next day on the NYSE. I called the NYSE to find out who the specialist was so I could question the situation but I go no response.
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