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To: Archie Meeties who wrote (64406)4/12/2000 2:14:00 PM
From: ItsAllCyclical  Read Replies (1) | Respond to of 95453
 
Huge MRO Oct 27.5 Call position taken today.

quote.cboe.com

Very bullish imho. OXY, VPI, OEI, XTO all saw similar call buying before big moves.

2750 at 2 1/2 makes it a $687,500 options bet. I'm guessing they expect MRO to be at least $33-35 for it to worthwhile to take the risk w/options vs shares. The fact that it was taken with a strike price of 27.5 vs 25, 22.5 or 20 is also very bullish. The OXY, VPI, OEI, XTO were all in the money at the time.

Chart wise MRO looks to hit 28 on this next run, (sometime in the next 1-2 weeks).

MRO Chart

207.61.23.98