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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Bill Wexler who wrote (2760)	2/11/1998 7:17:00 PM
From: Pete Mason	Respond to of 18691

In the FWIW column, the ZITL puts that I watch were substantially down today (my current fav, the June 15 put, was down about 30%), indicating that somebody out there thinks this move is more than a blip. Typically, options that far out don't track the stock so quickly; takes a day or two for the option to price in a big change to the underlying issue, I guess because people wait and see if the big change will stick. Anyway, looks like time to pony up for some more of these. With any luck, suckers/momentum players will be buying ZITL at the opening bell, and maybe these options will drop to the high 2's... which could yield a quick double if the stock drops back to 10 any time soon. -- Pete