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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: eddie r gammon who wrote (12231)	12/23/1997 3:29:00 PM
From: MythMan	Read Replies (1) \| Respond to of 18056

I'm sure it was a buy. Big boyz hedging their portfolio? Open interest was only 494 so somebody is thinks bk is coming <g> Its interesting, I couldn't get em to sell me 1 friggin contract @ 22 yesterday.. go figure

To: eddie r gammon who wrote (12231)	12/23/1997 3:36:00 PM
From: Defrocked	Respond to of 18056

Its an old trick...watch for large plays in related exp. as we go to close. A basket of short term puts offers better portfolio protection than dynamically hedged futures,especially with potential gap moves in the offing. 1600 of the 750's 1700 of the 800's 800 of the 950's 150 of the 975's All nice round numbers for Sep.contracts... (The 1200 lot is about a $100mm hedged by itself. The MM probably hedged shorting futures delta weighted and helped establish this end of session decline. Thank you whoever you are).