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Technology Stocks : Creative Labs (CREAF) -- Ignore unavailable to you. Want to Upgrade?

To: Douglas V. Fant who wrote (4557)	10/22/1997 1:05:00 AM
From: BZOOKA	Respond to of 13925

Doug,Vinik also sold when Creaf went down to 9,somebody picked up around 400 call contract 22.5 NOV in the last 10 minutes of the market..right on to whoever it was.

To: Douglas V. Fant who wrote (4557)	10/22/1997 1:23:00 AM
From: Richard Haugland	Respond to of 13925

I don't buy puts and calls and don't know thw entire mechanics or logic of these but could it be that at least some of the big sales the past three days (or many of the small sales) were of people going short, or naked shorts, in anticipation of CREAF missing earnings, rather than open sales? These people may be reluctant customers again tomorrow or soon since the maximum price at which they could have sold short was about $25. On the other hand, it was suggested on the APM thread that the reason behind that stock's dropping today was from sales of the stock by brokers had to protect themselves based on the large number of puts that were contracted on APM today. Between the puts and shorts, APM looks like a basket case for a stock that is selling at a P/E of 7.68 tonight and is announcing its earnings this week, which should be reasonably good yet. quote.yahoo.com