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To: Stuolson who wrote (440)1/12/1998 5:13:00 PM
From: vegetarian  Respond to of 3436
 
Then there were 6K Jan 60 calls and 2.5K Jan 55 calls.
Also 2.5K Jan 55 puts.
The 55 calls and puts are expensive and appear to be bought by speculators (almost equally divided).
Othe options are relatively cheap and appear to be hedges against long and short positions.
I could be wrong, but to me this implies that the reaction to earnings will be strong on either side (since the activity is not one sided).


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