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To: John Graybill who wrote (50313)	1/13/2000 1:41:00 PM
From: Land_Lubber	Respond to of 53903

John, I would be surprised if expiration is as high as 75 in the absense of real news or other market moving events. The open interest indicates 65 (yeah, I know a lot of the low stuff is not supposed to count because it has been sitting around so long, but I'm not so sure that it can be totally discounted). I was looking for a quick drop into the 60's, maybe even as low as 65, before the rise to expiry. There is still plenty of time for that, but I sense that the fundamental pressure is to move higher now. I'm not convinced either way. Land_Lubber