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Technology Stocks : Vitesse Semiconductor -- Ignore unavailable to you. Want to Upgrade?

To: Anthony who wrote (2607)	6/14/1999 6:41:00 PM
From: Trader Dave	Respond to of 4710

4900 contracts in one trade at 3/8. either someone knows something we don't or could be buying insurance protection? it's also the only options strike (put or call) with more than 1000 contracts open. It seems a little worrisome to me.

To: Anthony who wrote (2607)	6/14/1999 7:46:00 PM
From: SJS	Read Replies (1) \| Respond to of 4710

I did notice that too. I don't think that's the case at all. Possibly, it might be "cheap" (protection) side of a long option position with puts being initiated, with the other put "leg" side waiting for it to drop to increase the premium before they are sold. However, if you're correct, then people are waiting for a greater than 25% decrease in price. I think that's highly doubtful. Other than speculating, I'd sure like to know why, too. VTSS never trades in the top 10 option list. Steve