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To: MGV who wrote (5095)	10/1/1999 1:44:00 PM
From: Anthony Wong	Respond to of 11568

Sprint Options Active on Prospects of Purchase by MCI WorldCom Bloomberg News October 1, 1999, 11:51 a.m. ET Sprint Options Active on Prospects of Purchase by MCI WorldCom New York, Oct. 1 (Bloomberg) -- Sprint Corp. October call options were active on optimism long-distance telephone company MCI WorldCom Inc. may purchase its smaller rival, one options analyst said. Some 7,027 October 55 calls changed hands, more than a third of the open interest of 18,617 contracts. The calls rose 5/16 to 2 5/16. ''Most of these trades are additional positions on this particular option,'' said Joe Sunderman, an options-research analyst at Cincinnati-based Schaeffer Investment Research Inc. ''Someone is thinking if the merger takes place, the final price of Sprint will be much higher.'' Sprint shares rose 7/8 to 55 1/8 in midday trading. Since the options expire on Oct. 16, any acquisition must be announced before that date for investors buying the calls to benefit. The companies were first reported to be in talks last week. Today's volume on the October 55 call was the second highest in its six weeks of trading. Average daily volume is 1,456 contracts. Park Place Entertainment Corp. October 5 call options were active ahead of its inclusion in the S&P 400 Midcap index after the close of trading today. Some 2,000 contracts changed hands in a single block on open interest of 355 contracts. The calls rose 1/4 to 7 1/2. ''It looks like one institutional investor is looking for the stock to move higher,'' said Sunderman. The underlying stock rose 1/8 to 12 5/8.