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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: TideGlider who wrote (9856)	11/16/1997 7:26:00 PM
From: Shakush	Read Replies (1) \| Respond to of 25960

Bruce, <I feel the puts and calls cannot be equated by volume> I'm not sure what you mean here. At this late stage, I don't think the volume is particulary meaningful except in its effect on OI. As measured by the put call ratio, there is a floor at 17 1/2 (though OI is relatively small in that strike, most of it was put on last Wednesday). Someone was confident. And look at the reduction in the 27 1/2P OI from trade on the 11th. Someone else smelled a bottom. It seems to me there is a far greater incentive to protect profits on earlier sales of near to or in the money calls. If the stock breaks out and they are naked and people like you hold their calls, they'll have to buy the stock to cover. Kneecapping the stock again will hopefully be more difficult this week.