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To: yard_man who wrote (201221)	10/30/2002 5:45:25 PM
From: mishedlo	Read Replies (1) \| Respond to of 436258

Max Pain It seems there is a buildup of calls at QQQ 24 and 25. At 25 it is 95K to 23K That to me is obscene (with pain at 23) There is also a buildup of puts at QQQ 23 and below. If we somehow take out QQQ 23 this is going to be one H of a plunge. I doubt it, but I do not doubt 23-24. Call buyers are more than exhuberant here, especially after this runup. Look at MSFT 61K calls vs 6K puts at 65. This is really obscene. INTC 35K calls and 8K puts at 17.5 INTC 51K calls and 22K puts at 15 This is obscene as well MSFT at 65 is a free shot IMO INTC at 17.5 same thing NOT with front month puts M

To: yard_man who wrote (201221)	10/30/2002 5:55:07 PM
From: Israel	Read Replies (3) \| Respond to of 436258

those 'not even 10 points' are quite painful when you're managing a six figure loss on the position.. but you're right <<chin up>>.. I should stop my whining' and complaining.. thinking of those poor bastids who went short back in 98 makes me feel just a wee bit better. <gg> Seriously, once orbitz IPO's (they filed in March of this year if Im not mistaken) they should put some serious pain on EXPE's business as orbitz was formed by American Airlines, United Airlines, Delta Air Lines, Continental Airlines and Northwest Airlines.. EXPE will not be able to compete with Orbitz pricing... Israel