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

To: Steve Lee who wrote (97201)	7/22/2002 5:16:01 PM
From: farkarooski	Read Replies (1) \| Respond to of 99280

I was hoping for another down 300 points day, didn't get it, so probably next Monday !!!

To: Steve Lee who wrote (97201)	7/22/2002 5:28:17 PM
From: Zeev Hed	Read Replies (3) \| Respond to of 99280

It is a "fly in the ointment" (equity P/C ratio at .63), but not dangerous in view of many other indicators. You could say that all the calls that expired worthless were rewritten today (g). Zeev

To: Steve Lee who wrote (97201)	7/22/2002 10:53:23 PM
From: shoreco	Read Replies (1) \| Respond to of 99280

Steve Lee, >> what about the massive call buying today? Not a good sign of a bottom << The QQQ's options are mostly used for high percentage day trading tactics. You can track the daily open interest here... cboe.com Here's how the open interest faired since last Thursday. Options on the Nasdaq 100 Index Tracking Stock-(QQQ) for 07/18 QQQ CALL VOLUME: 90150 QQQ CALL OPEN INTEREST: 2650530 QQQ PUT VOLUME: 59458 QQQ PUT OPEN INTEREST: 1794684 QQQ TOTAL VOLUME: 149608 QQQ TOTAL OPEN INTEREST: 4445214 QQQ LEVELS HIGH: 25.53 LOW: 24.69 CLOSE: 24.73 -0.92 Options on the Nasdaq 100 Index Tracking Stock-(QQQ) for 07/19 QQQ CALL VOLUME: 83736 QQQ CALL OPEN INTEREST: 2749039 QQQ PUT VOLUME: 50461 QQQ PUT OPEN INTEREST: 1806818 QQQ TOTAL VOLUME: 134197 QQQ TOTAL OPEN INTEREST: 4555857 QQQ LEVELS HIGH: 24.69 LOW: 23.88 CLOSE: 23.99 -0.74 Options on the Nasdaq 100 Index Tracking Stock-(QQQ) for 07/22 QQQ CALL VOLUME: 96971 QQQ CALL OPEN INTEREST: 1766615 QQQ PUT VOLUME: 28245 QQQ PUT OPEN INTEREST: 1264994 QQQ TOTAL VOLUME: 125216 QQQ TOTAL OPEN INTEREST: 3031609 QQQ LEVELS HIGH: 24.48 LOW: 23.10 CLOSE: 23.40 -0.59 Notice the high volume during the day, but the open interest barely changes.