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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Kevin Walsh who wrote (35140)	2/18/1998 8:55:00 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 58727

Put/Call One possibility, a bearish scenario, is that a considerable amount of index calls have already been exercised. A scenario I tend to discount because of the time that you posted that. The CBOE would not have data on yesterday's exercise until around 8 AM Est. So, the exercises would have to have been last week. On the other hand, the "straight up" run recently probably left a lot of put buyers holding the bag. Perhaps that's why the high ratio. I think that this run, no matter how the rest of this week plays out, will see a consolidation at the very least on Monday once everything is either exercised or "rolled out".

To: Kevin Walsh who wrote (35140)	2/18/1998 9:23:00 AM
From: Kevin	Read Replies (1) \| Respond to of 58727

Good morning Kevin. How are ya? The thread looks a little dead, so I thought I'd throw out a couple of ideas for discussion. AHP: target $97 based on strong block MF. I may consider trading it, but I'll most likely wait until it breaks $90 first. AOL: stock has looked strong since below $80...steady buying and steady price increase over the last 3 months. As soon as the stock broke above $115, I began to see block selling. I may short calls if we see some strength today...looking for a stall below $115. As for the overall market, we've been in a bull trend for 14 trading days (average length is usually 3-7 days), but a down day today will finally end that trend if my indicators are right. I estimate 1020 to be the turning point. Once we fall below that we'll selloff...to 1010...possibly 1000 (which would be very healthy IMO). If we have an up day, all bets are off because the bull trend stays intact. Adios!