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To: Magrathea who wrote (215876)	11/2/2006 5:39:56 PM
From: Petz	Respond to of 275872

re: [change in options open interest > volume] It would seem to me that you might have uncovered that there are options trades going on that are not going through the exchanges. If Fidelity customer A buys some calls from Fidelity customer B, customer B is writing the calls and customer A is going long, the open interest just went up, but Fidelity might not report the trade as a trade. Is this a possibility? I'd hate to think the big guys (market makers) are trading between themselves, reporting open interest properly but not their trades. Too much possibility for abuse. Personally, I don't think that kind of stuff should be allowed. If one of the customers requested "time and sales," would they make something up? It would definitely be worth an inquiry to options clearing corporation (still called that?). Petz