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

To: Ben Antanaitis who wrote (5359)	7/4/1999 10:47:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 8218

Hi Ben; Thanx a lot for keeping up that page, I didn't know it was yours but have visited it many times and find it very useful. Do you think that once a certain point is reached like with the large open interest in IBMGT ( July 100 ) calls that the original sellers likely bought more of the stock as it went by there and sold more options at a higher strike. ? Sort of like once a stock passes it's max pain as far as IBM has it causes even more momentum ? --------------- I just do a seatofpants thingy in graphing some of the larger OI and try to put myself in the call writers shoes. Most of the 100s were wrote back when she was 85-90 , they went as high as $45 when she was only not long ago 120 , ( a $25 premo) she is now 132 and they have lost most of their premo. However the longer term leaps still have more premo built in than the longer term puts, so demand for the calls seems to be up and could take the stock higher. Short term I think there will be a pull back but I think maybe it's passed max pain too far to go all the way back there as they likely covered some of that and will let stock get called. Sort of ironic that earnings come out two days after option expiration ? She is trading more like an internet stock than main frame blue chip, except that she ran up when the nuts were going down, so as the nuts start back up will money roll out of this and back to them ? So far it don't show taht. Jim

To: Ben Antanaitis who wrote (5359)	7/7/1999 11:22:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 8218

Ben; In addition to the Max pain would it be possible to just give the total amount of option money , "in the money" on a stock, like how much is in the money on calls less in the money on puts ? For reasons I don't fully understand yet I would like to look at taht in respect to or in ratio to the market cap of the issue and see if any thing stood out. Like if some certain stocks carried a "high" balance of calls in the money relative to their market cap. Just a thought. Jim