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Technology Stocks : Lam Research (LRCX, NASDAQ): To the Insiders -- Ignore unavailable to you. Want to Upgrade?

To: Jerome who wrote (3291)	9/3/1999 5:54:00 AM
From: Duker	Read Replies (2) \| Respond to of 5867

Is there any way of telling if this is covered call writing or call buying in expectation of the stock closing above 60 in another 10 trading days? Interesting question Jerome. It is impossible to differentiate between covered call writers and call writers as far as I know ... and, when it comes to options and other derivatives, my knowledge doesn't go very far! Still, the options market is not unlike any other market; for each seller, there is a buyer, and vice versa. Each call writer is writing a call that is purchased by someone who believes the stock will be worth 60 in 10 trading days (or by someone who is at least willing to pay the premium to hedge himself if that scenario comes to pass). In the end, I think it is awfully difficult to interpret a bullish or bearish bias in this situation ... which, as I understand it, is the essence of your question. I applaud you for your paranoia. We need to be vigilant as the stars in this industry begin to align. For when the heavenly bodies appear to be most favorably positioned, it is prudent to be prepared to induce vomiting -- aptly completing yet another cycle where the analytically-challenged momentum players bequeath unto us shares of these companies at incredibly inane prices ... in order that we can, several months later and fattened with nearly-egregious gains, strip them of all dignity and sell them back these very same shares at prices hitherto unspoken. I believe that I may be unwittingly (an apt descriptor in most instances where I attempt to think or be creative) paraphrasing the Book of Revelation ... or some such TOC (Text of Consequence). Have a great day. --Duker