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

To: DMaA who wrote (5937)	8/26/1999 11:23:00 AM
From: Just_Observing	Read Replies (2) \| Respond to of 7342

The option activity indicates negative reaction If the market perceived it as a massive over-reaction, then there would be huge buying of the 65 (249 traded) and 70 (80) calls. Instead the most actively traded call is the 60s (484) which is a defensive move. Quite a few of the Sept 60 puts have been traded indicating that people are taking defensive positions (200). Only one of the Sept 70 puts, which would be a strongly bullish move, has traded. The 70 calls are selling at a discount of at least 10% to fair value indicating a somewhat negative bias. Other puts and calls appear to be fairly valued except for the 60 calls which are trading at a premium of a few percent which is unusual if people were selling them. Of course, the option markets are often contrary indicators which means that any conclusion that I have drawn could be in error.