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To: Nancy who wrote (7317)12/12/2003 11:06:23 AM
From: Alastair McIntosh  Respond to of 13403
 
O.T. I sold the KLAC Jan 47.5s for $0.90 as the stock was approaching $53 a few days ago. Generally options don't price according to where the option MMs think a stock may go. When people say that options are "cheap" or "expensive" it is just a function of the volatility in the stock.