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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Charles R who wrote (102585)	4/6/2000 1:44:00 PM
From: Jim McMannis	Read Replies (3) \| Respond to of 1575420

Chuck and AMD investors... Remember Tad La Fountaine? I think he lost it. Maybe someone will tell him the stock is at $72.... Advanced Micro Devices Cut to `Buy' at Needham & Co. By Donna Mcdonald Princeton, New Jersey, April 6 (Bloomberg Data) -- Advanced Micro Devices (AMD US) was downgraded to ``buy' from ``strong buy' by analyst A. A. Lafountain III at Needham & Co. The price target was raised to $58 from $56 per share.

To: Charles R who wrote (102585)	4/6/2000 6:37:00 PM
From: Petz	Read Replies (3) \| Respond to of 1575420

Chuck, re:James:<<"Yesterday afternoon, one large institutional customer sold about 5,000 to 6,000 April 65 puts when the stock was around 67 or 68.">> Chuck: <Thanks for posting. This answers my question from yesterday. This is extremely bullish from the institutional investor point of view! The downside may be that the options market maker is long these puts so he will do whatever he can to stay neutral. I like it.> I think I figured out what the market maker did. I noticed yesterday that the AMDDK's were abnormally low priced so I bought a 55/70 spread. This makes me think that the market maker sold April 55 calls and bought AMD stock to convert his bearish position (long puts) to a neutral position. Short calls+long puts+long stock is a totally neutral position. Petz