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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: xstuckey who wrote (42903)	12/19/1997 6:43:00 PM
From: Road Walker	Respond to of 186894

X, Agree that options expiration makes the trading less "pure". Still, the techs have corrected, Intel by 33%, whereas most of the big board big caps are not that far off their highs. The growth in tech is still there, even if it declines from 1997. And the prices are cheap compared with the overall market, which has less growth. I wouldn't want to predict what the market will do from here, but I would bet that the quality techs will outperform the DOW and S&P. John

To: xstuckey who wrote (42903)	12/20/1997 9:26:00 AM
From: VICTORIA GATE, MD	Respond to of 186894

xstuckey re<, but it certainly would have been more impressive had it not come on option expiration day.> wrong vg

To: xstuckey who wrote (42903)	12/20/1997 1:43:00 PM
From: P.T.Burnem	Read Replies (1) \| Respond to of 186894

There were over 30,000 Intel $70 put options still open this afternoon. With the stock at $68.50 to $69, I know what I would have done if I had owned some of these puts. I would have bought shares to put to the sellers of the options at the close. And I would have kept on buying all the way to $70, and not one cent more. Could this explain the tech rally? You hit it right on the head. For INTC Dec 70 put holders, anything below $70 was a free ride. Ditto for other tech stocks with large in-the-money put positions. PTB