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Strategies & Market Trends : Option Spreads, Credit my Debit -- Ignore unavailable to you. Want to Upgrade?

To: OX who wrote (1284)	3/25/2000 11:47:00 PM
From: Bridge Player	Read Replies (1) \| Respond to of 2317

Hi Ox, I have a couple of questions for you. Schwab's option chain shows that the SPX June 2000 1850 call, symbol SYZFK, quoted at a bid price of 74 1/2 as of Friday March 24 2000 close. Is this correct? Does this make sense? In other words, if by June expiration, the SPX cash is NOT over 1850 (and I know how these settle, on Fri morning opening price of each stock in the index), then these options are worthless? In other words, SPX cash (closed Fri at 1527) has to close OVER 1922.50 for a short call to lose money? Or roughly 25% gain in just under 3 months? That is a hard premium to believe, wanted to verify that these assumptions are correct. Second question. Their option chain also shows 2 different symbols and quotes for June 2000 SPX 1500 put options: SXMRT quoted at 42 3/4 bid; SYZRB quoted at 103 3/8 bid. Why? Which is right? Is the other adjusted for other than 1 contract, some kind of index split or something? Any info appreciated. BP