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To: Patrice Gigahurtz who wrote (24394)	10/26/1997 11:24:00 PM
From: view	Respond to of 50808

It is possile that some one bought to close their naked puts. The trade took place at American option and not on the primary chicago option. It was a single trade, since the low and thehigh were the same when I checked at 11AM pacific time. After the purchase they increased the ask to 1/4. I also notice a lot of big contracts are sold deep in the money. Feb 20's and 22.5. By the way, the drop in value is reported from last sale. another words the last trade in American exchange for Feb 15 puts could have been 2 months ago, and no activity since then. So, when there is a trade they show the + or- based on the last sale from previous trading day. out