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Technology Stocks : Micron Only Forum

MU 223.79

+7.9%

Nov 24 3:59 PM EST

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To: Peter Goss who wrote (44623)	3/30/1999 4:15:00 PM
From: John Graybill	Read Replies (1) of 53903

I noticed that Put screw-job myself. I've been trying to complete another 50 - 47 1/2 put spread that I opened Thursday by buying the 50's. MU had to drop from 47 1/2 to 45 1/2 to move the bid of the 47 1/2 put from 3 3/8 to 4. Should have moved a point at least, as it was in the money the whole time. (Rule of thumb: in-the-money options for the current month should move at least 1/2 of the stock movement, approaching 1:1 as the option gets deeper into the money.) Dare I say it -- that suggests to me that They don't want you to sell puts to them, and we will see some solid upside trading tomorrow? Paging DavidG! :-) p.s. Note that there is a 300-contract strangle outstanding at 47 1/2 -- somebody is betting big that we close near 47 1/2 at expiration.

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