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Technology Stocks : Spectrian Co. (SPCT) -- Ignore unavailable to you. Want to Upgrade?

To: mact who wrote (735)	1/22/2000 5:50:00 PM
From: Area51	Respond to of 738

I'm guessing that the weakness was due to an in-line earnings report (I think 0.05 of the 0.20 was a one time gain on a building?) combined with options expiration. Here's my options theory. (Just pure speculation on my part, so feel free to throw stones especially if I might learn something in the process). There were 510 jan 25 calls outstanding so a little selling pressure could save someone (e.g. - the MM) $204000 offset by $44000 in put option appreciation. I would guess the MM thought Friday might be a good time to sell some inventory at 28, 27, 26, and 25 with the thought they can buy it back Monday for $26 and $27 and they can pocket about $100K of options premium. Best Regards, Area51