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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: R.E.B. who wrote (78560)	12/14/1999 5:37:00 PM
From: Jo Ellen T	Read Replies (1) \| Respond to of 90042

REB a lot of options traders are gamblers, not that much money for a gamble if you think there's a chance at all of 40-50 by expiration. I just hope they make a ton of money off of it! :) JET

To: R.E.B. who wrote (78560)	12/14/1999 7:38:00 PM
From: Samuel Wayne Turner	Read Replies (1) \| Respond to of 90042

With all due respect, I think your observation means nothing. Please understand that I am not attacking you, I just believe that you are drawing the wrong conclusion from the options buy. I say that because on Friday, I bought 30 Dec 25 calls at 5/8s myself when the stock was well off 25. I sold 20 calls at 1 1/2 today, pocketed 1k pure profit, and have 10 calls I am playing still compliments of the house. When cs dipped , I bought 10 Jan 20 calls at 5 3/8. I am by no means rich and I bought 30 calls, a wealthy investor, a brazen investor, or a novice could well buy that number of calls without it meaning anything. Also, some short cs could have taken out some cheap insurance with the calls in case a buyout does happen. There are so many ways to strategize in options plays such as hedgeging, straddle, etc that you might want to rethink your observation. Again, no insult intended, I just wouldnt make any investment decisions based on your options observation. Good luck to us all.