Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: ItsAllCyclical who wrote (79111)	11/15/2000 4:39:30 PM
From: ItsAllCyclical	Respond to of 95453

Nice call buying in GRP today along with massive volume. Over 1000 Jan 20's bought today. In an issue that doesn't have much open interest in the way of calls that's significant imho. quote.cboe.com We saw the same call buying with XTO, OEI, VPI etc before their runs last fall/winter. MVK also saw over 1000 calls bought today, but given the short interest it may just be shorts buying protection and not wanting to take profits so close to year end. Eventually come Jan 1st that remaining short interest get's unwound in a massive way though. GRP has little in the way of short interest. MVK still has over 3 mil shares short - average volume around 2-400K. GRP has 1 mil shares short, but volume averages around 700K. So today was not short covering imho. I believe about 40% of GRP's business is OCTG (tubulars) vs drill pipe. NOI also saw nice call buying in the Dec 35's. If you're going to write a covered call I think you'd at least chose Jan to avoid taxes. Hence it's most likely buying. Very bullish. quote.cboe.com You gotta love this call buying if you're long the OSX.