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

To: CHIP HUNTER who wrote (5847)	11/18/1997 2:43:00 AM
From: Shakush	Respond to of 13925

Thread, here's some stuff relating to Friday's option expiry. For those who don't know what my point is, a put / call ratio near to or above 1 implies "put support", ie the put seller, usually a pro, thinks the stock won't be below that strike at expiry. The table below shows the Nov20's and to some extent the 22 «'s have it. The converse is "call resistance", characterized by large OI with a low put / call ratio in a strike near the market. In this case, the largest OI is in the 25 calls at about 140,000 shares, not particularly large, but obviously the seller does not want these to expire in the money. The OI is thin enough that the overweight 25's are a mild negative. Adjusted for the naz practice of counting both sides of the trade in the volume number and for the normal churn, it represents maybe 1/2 - 3/4 of a day's real trades. Continued but stronger reductions in the OI over the next few days implies strength in the stock. Just my opinion. Duane CREAF Put / Call Ratios Date Close Nov20 Nov22.5 Nov25 Nov30 12-Nov 27.72 2.36 0.77 0.31 0.06 13-Nov 27.44 2.36 0.80 0.31 0.06 14-Nov 28.19 2.36 0.82 0.31 0.06 17-Nov 28.63 2.28 0.83 0.31 0.07 Nov25C Vol OI Chg 12-Nov 27.72 90 1438 13-Nov 27.44 50 1418 -20 14-Nov 28.19 36 1410 -8 17-Nov 28.63 93 1394 -16 16-Nov ? Here is today's volume and OI in the Nov contracts. C NOV97 20.0 0 116 C NOV97 22.5 25 407 C NOV97 25.0 93 1394 C NOV97 30.0 47 1265 P NOV97 30.0 4 83 P NOV97 25.0 0 439 P NOV97 22.5 0 336 P NOV97 20.0 0 264