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Technology Stocks : NetGravity [NETG]
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To: margaret foley who wrote (493)5/21/1999 9:13:00 AM
From: RDR  Read Replies (1) of 589
 
Hi Margaret,

A lot of stuff that's happening with the Tech stocks is due to the OPTIONS expiry today May 21, 99. I just looked at the OPEN interest on the CALL and PUT sides for TFSM, DCLK, MSFT, INTC, NETG and others. It is not surprising to see these stocks at the levels they closed at yesterday. It appears that they will remain at these levels until the end of day today. Keeping these stocks at the current level is the most beneficial position for OPTIONS writters (both CALL and PUT) because at these levels majority of these CALL and PUTS expire useless.

If you are looking to buy any of these, I would wait till late afternoon but next week I expect them to start move upwards (MM have to write some decent options contract for the next month as well..). I am accumulating some of the above mentioned at these level and waiting.

Hope this helps.

Regards,
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