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To: Marshall Teitelbaum who wrote (1376)1/31/1998 9:31:00 AM
From: Rajendra KRISHNAN  Respond to of 2205
 
TomO and all,

Some times the option writers who have sold a lot of options would like to
see the stock in the range where the option buyers lose their options for
little or nothing. So if there were a lot of options written in the 13 to 14 range we
should see some tendency for the stock to remain in that range - unless - some
bigger fish steps in and decides to buy a lot.

All this is 'just guessing' as no one really knows exactly what drives the markets.

R Krishnan



To: Marshall Teitelbaum who wrote (1376)1/31/1998 10:18:00 AM
From: icanpickem  Respond to of 2205
 
HI MARSHAL---IT WOULD APPEAR TO ME THAT ALMOST ALL OPTION BUYERS--BOTH PUTS AND CALLS-

LOST MONEY IF THEY MADE PURCHASES PRIOR TO ANNOUNCEMENT AT THE $15 STRIKE PRICE AS PREMIUM WAS HIGH PRIOR TO WORD ON APPROVAL.