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To: Oeconomicus who wrote (6223)	1/12/1998 9:30:00 PM
From: Michael Collings	Respond to of 27307

Bob: Ive noticed that also but it doesn't correlate with the number of options that have traded in the last month. I just wrote the CBOE and asked them to explain that one. Each time one of these blocks have traded the open interest has increased. But it has not kept pace with the size of the blocks. Possibly one of the outstanding blocks traded hands maintaining the same open interest. I'll have to check this out. The July 45's open interest correlates to the one block that occurred. You are probably right on this. Yet the issue is the number of blocks that are continuing to trade and the open interest continues to rise. If the specialist then shorts those shares, the short interest will continue upwards even though these shares won't be coming back into the market to support the stock nor be part of a short squeeze to Barb's "rocket 80". It will remove the shortable number of shares though which is good for those that are currently short. Watching the deep in the money calls makes sense at this time. Mike