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To: John Graybill who wrote (49450)	10/20/1999 5:14:00 PM
From: zsteve	Respond to of 53903

with these 'mid-day-' and 'mid-nite-' calls, i think this thing may stay in 60-69 range for a while. i even daytraded mu calls today with a little profit. if the pos goes up anywhere near 70, me may reenter pooots position again. BTW, news from IBM seems not so good.

To: John Graybill who wrote (49450)	10/20/1999 7:00:00 PM
From: Land_Lubber	Read Replies (2) \| Respond to of 53903

John, Look at the MUWK chart of the 19th and 20th (the past two days), and compare it to the MU chart of the same period. The MUWKs have lost 0.5, or 25%, from Tuesday's open to Wednesday's close, despite the MU underlying price being unchanged! This is loss of implied volatility, as time value loss is insignificant (with 22 trading days left). Seems like a lot to me. I think the MUWKs were going at a cheap price near today's close. Perhaps the writers are giving more weight to the possibility of MU going higher now than they were two days ago. What do you think? Land_Lubber