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To: Michael M who wrote (7862)	3/2/1999 3:28:00 PM
From: gil schmidt	Read Replies (3) of 10072

<<Action in both May contracts remains active today (though nothing near levels you reported). Must mean "something".....hope it's the guys in white hats trying to pick up some sucker money, as suggested earlier>> Michael M, It just took awhile that's all. The volume TODAY alone in the May 5 Put is over 14,000 contracts...again the number one put option traded. Massive amount. The trades seem to be at the ask and makes me nervous that some big player is betting that IOM will fall below 5 prior to expiration in May. Anyone who can risk hundreds of thousands of dollars on one option trade likely knows more about IOM's short term prospects than I do. Makes me nervous even at a time when the stock seems tremendously oversold. Gil

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