To: PROBABILITE who wrote (19892 ) 6/16/2000 11:38:00 AM From: pallmer Respond to of 77509
[B] US Equities Options: RMBS short-covering rally; EMC calls BridgeNews--Chicago, Friday, June 16 Central Time ---------------------------------------------------------------------------- 1025: Rambus (RMBS) cash saw a short-covering rally that made out-of-the-money call buyers Thursday happy campers. "Its going crazy," one CBOE market maker said. "It's hard to tell what's going on." Jun 55 through 75 calls traded a combined 21,600 times. The most active Jun 72 1/2 strike traded 4,600 times at prices that ranged between $8 and $20. Media://Analytics/Pages:Rambus:/cmd=us;RMBS/CH/MA/HZ2/NVO EMC Corp. saw Jun 65 calls active right out of the gate, with blocks of the way in-the-money calls trading up to 10 3/4. Previous open interest is concentrated at the 65 level with 9,275 outstanding calls and 13,244 puts. EMC appears to hold a lot of losing positions in out-of-the-money puts, as cash climbs on the last day to trade Jun options. Blocks of more than 2 million shares traded at 74 1/8 and 75 after cash ended with a market-on- close buy imbalance Thursday. Media://Analytics/Pages:EMCCorp:/cmd=us;EMC/CH/MA/HZ2/NVO 0905: Market indices opened mostly lower and the Chicago Board Options Exchange volatility or "fear" index started to climb after closing at a near 3- month low Thursday. Friday is the last day to trade Jun options, indices and futures contracts. Trans World Airlines (TWA) and Airtran Holdings (AAIR) rallied on the open, after The Wall Street Journal reported they are in early merger talks. Royal Dutch (RD) and Texaco (TX) reacted more modestly to the plus side on reports that they are discussing a possible merger. The Pfizer-Warner Lambert deal may get approval from the US Justice Department as early as today. Adobe (ADBE) slid 7% after posting better than expected earnings. Xerox (XRX) fell more than 17% on an earnings warning because of customer relation problems. ---------------------------------------------------------------------------- End [Begin BridgeLinks] Julie Fustanio, Tel: 312-930-1510 Send comments to futures@bridge.com .888 intraday update on U.S. stocks .1300 review of cash stock activity .1308 review of stock futures activity [End BridgeLinks] Copyright 2000 Bridge Information Systems Inc. All rights reserved. [symbols:US;TX:US;RD:US;AAIR:US;TWA:US;XRX:US;ADBE] [symbols:US;TX:US;RD:US;AAIR:US;TWA:US;XRX:US;ADBE:US;EMC:US;RMBS] [symbols:US;TX:US;RD:US;AAIR:US;TWA:US;XRX:US;ADBE:US;EMC:US;RMBS] Jun-16-2000 15:36 GMT Symbols: US;TX US;RD US;AAIR US;TWA US;XRX US;ADBE US;EMC US;RMBS Source B BridgeNews Global Markets Categories: FSN/01303 I/FUT I/MKT R/NME R/US CAP/STOCKS CAP/INDEX