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To: md1derful who wrote (271)10/8/1999 4:14:00 PM
From: Mark Peterson CPA  Read Replies (2) | Respond to of 669
 
There's gotta be a deal. But when?

Noticed earlier this morning that someone bought 100 of the April 45 calls for 13 3/8. Twenty minutes before closing, someone sold 100 of the April 45 puts for 9 3/4.

If there wasn't an announcement forthcoming, it would have been less expensive to buy the stock at 47, where you could buy it all day instead of paying roughly 11 3/8 over the intrinsic value of the stock by buying the April 45 calls for 13 3/8.

The put sale is gravy. Whether there's an announcement this week or in Q1, 2000, the expectation is that the value of the puts will go to zero because the deal will be higher than 45.

And I don't doubt for a minute that CMGI would be a buyer if DCLK wasn't interested...

Keep your radar on the news this weekend.

Mark