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To: LLCF who wrote (9947)8/10/2000 1:25:38 PM
From: John Pitera  Respond to of 436258
 
yes you are right that it could offset a long stock
position, but it does make the fund have a much lighter
position in CSCO, and they may want to get back to the
original long CSCO exposure.

there are 10,000 permutations as too what the nature of
that put trade was. I'd bet that the buyer wanted
people to know what they were doing.

question is why.

John


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