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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: ViperChick Secret Agent 006.9 who wrote (29914)	12/2/1997 1:17:00 PM
From: Muizz M. Kheraj	Read Replies (2) \| Respond to of 58727

Hey...where is OJ??? Is he on vacation or something? Haven't heard or seen from him in a while... Muizz ** Long SXBLJ...looking to exit and enter QCOM,CSCO Calls

To: ViperChick Secret Agent 006.9 who wrote (29914)	12/2/1997 1:19:00 PM
From: Kevin	Read Replies (2) \| Respond to of 58727

>>>What are the OEX options priced off of...something to do with S&P 500?!?!?!?! <<< I'm not very familiar with indices, but my guess is that the OEX options are priced off of the OEX Index. The MMs might look at the SPZ7 as well (at can't confirm this, since I'm not a MM), but definitely not the SPX. I witnesses several days where the S&P 500 Index feed crashed. I won't comment on who is the official calculator of the S&P and who is the primary source that many of us use. But I did notice that when the Index froze, so did the options. Apparently the MMs did not have a current quote either. They were adjusting the bid /ask, but not executing ANY trades on ANY strikes. I think they were able to adjust the spreads on the options based off of the SPZ7...which comes off of another feed. The entire time, the OEX continued to trade (another different feed as well), and their options continued to trade. So IMO, the underlying index is the primary source to price the options off of, but the futures are probably looked at as well. Kevin