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To: kash johal who wrote (1584)7/20/2000 12:15:25 PM
From: Chung LeeRead Replies (1) | Respond to of 275872
 
Kash >>My schwab report showed huge positions in 90 and 95 calls.

There is also 15K 80 call contracts outstanding, good chunk of money there to be had.



To: kash johal who wrote (1584)7/20/2000 2:24:22 PM
From: PetzRespond to of 275872
 
kash, I think you're right that the max-pain is not so low.
THe deep-in-the-money calls are actually a positive at expiration because these are exercised and much of the stock held and not sold by the exerciser.

The call sellers have to scramble to buy or replace their stock.

Petz