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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?


To: Syd Deem who wrote (82247)6/20/2002 2:23:09 PM
From: Zeev Hed  Read Replies (1) | Respond to of 99280
 
Could be shorts protecting their profits?

Zeev



To: Syd Deem who wrote (82247)6/20/2002 2:23:57 PM
From: vampire  Respond to of 99280
 
Message 17630092



To: Syd Deem who wrote (82247)6/20/2002 2:28:50 PM
From: Todd Reichardt  Respond to of 99280
 
Tough to make a call on what it means without more info. There's also heavy volume on the 450 July calls as well which tends to cloud the picture. Could be institutions are buying both the 450's and the 500's, in which case they're being quite bullish. Or they could be selling the 450's for the premium and buying the 500's as protection. This would make them short a bull spread, a bearish position since it would only be profitable if the SOX stays below ~445.