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To: justaview who wrote (228709)	3/21/2007 9:56:26 PM
From: Magrathea	Read Replies (1) \| Respond to of 275872

Occam's Razor tells me that there are NOT large volumes of deep in the money puts being traded when they don't show up in Open Interest the next day. Rather the reported volumes are in error. 1. We see from the Apr 14 Calls today, that the error rate in volume reporting is ridiculous. 2. When I have seen large in-the-money volumes, I usually see no activity in neighboring strikes. 3. Who would buy deep in the money Puts that someone would be willing to write? 4. Almost all the time I see this, it is in the leaps with the weird ticker prefix. A potential source of reporting error. 5. Most of the time when we see large in-the-money volumes, it is not that the changes in open interest are small, it is that the change is ZERO. Forget the SEC. The Nevada Gaming Commission wouldn't put up with this. -Magrathea