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To: Real Man who wrote (116596)	8/10/2001 5:07:18 PM
From: John Graybill	Read Replies (1) \| Respond to of 436258

Back in '99 I did a study of option expirations for 1997-1999. I believe it was better than 1/3 that there was a wrenching collapse (not just a lower level) into the Fri/Mon/Tue before expiration. I was looking at MU (POS1) and NASDAQ. For MU, my definition was 10% over four days or fewer. The correspondence for the major indexes was maybe two or three percent. Given a low on one of those days, it would gain it all back and then some far more than 3/4 of the time. Today's low would satisfy the "wrenching collapse" part.