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To: Herm who wrote (11298)	7/26/1999 11:53:00 AM
From: majormember	Read Replies (1) \| Respond to of 14162

>>>I would soften using the word "idiot" Hi Herm, Yes, you are correct, it was a poor word choice when I meant to imply "ill advised". In fact, I spent a couple of minutes trying to think of an alternative word to use, but my mind was frozen at that moment, so I stayed with that ill chosen word, (hoping it could get by with no-one calling me on it)<g>. I also understand and appreciate that there are a number of "ill advised" posters who degrade the overall quality of Silicon Investor. Please accept my apology. Skane

To: Herm who wrote (11298)	7/29/1999 10:11:00 PM
From: Night Writer	Read Replies (3) \| Respond to of 14162

Herm, I have run into some unusual activity on Compaq options. I thought you might be able to shed some light on the possibilities. It involves some rather large blocks of options. Here is some information from transaction logs on CPQ options. Month Strike C/P Time # Price Stock Price Jan 25 P 9:57 1,000 2 9/16 D 25 1/8 Aug 22 1/2 C 10:22 1,000 3 1/8 D 25 1/8 Aug 25 P 2:17 989 1 1/16 D 25 Jan 40 P 4:12 1,000 15 D 24 11/s Jan 40 P 4:13 1,000 15 1/8 D 24 11/s Jan 45 P 4:13 2,000 20 H 24 11/s Somebody is playing big time. This is almost 700,000 shares. The 9:57 and 10:22 could be one player or one strategy. I have no idea what the gentleman is doing. The 40 and 45 puts could be a different player or a different strategy. That is awfully expensive insurance against a price drop on a beaten down stock. Every tick over 25 is going to cost money. It appears to be one big short position. Do you have any idea what the D and H mean before the stock price? I think the D means Delayed reporting, but the H ......? Thank you for any insight you might be able to share. NW