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To: Ed Pittman who wrote (4020)1/8/1998 6:47:00 PM
From: michael piegza  Respond to of 10227
 
Ed,

There are so many possible permutations
and possibilities to the option game; who
knows what was behind this transaction.

If the 400 contracts are sold in the next
couple of days than we will know it was a speculative
trade. Right now I have to think it was some
kind of hedge against a decline in the
price of NXTL rather than the type of Equity Option
Trade that most of us would think of.

Regards,



To: Ed Pittman who wrote (4020)1/8/1998 9:49:00 PM
From: Sunny Jim  Read Replies (1) | Respond to of 10227
 
To buy that particular call sounds kind of stupid for someone who is investing that kind of money. Are we sure that it was a purchase? If the person sold 400 covered calls, they are in some good money at this point. Comments?


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