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Biotech / Medical : Oxford Health Plan (OXHP) -- Ignore unavailable to you. Want to Upgrade?

To: william liao who wrote (1177)	3/3/1998 4:46:00 PM
From: men mailman	Read Replies (4) \| Respond to of 2068

Very slow day indeed. In fact the last 2 days have had very small volume. It is my opinion that there was somewhat pressure in the past week by people who bought to sell after the news release last week. A few points regarding the shorts. I definitely would not short at this point. A) There is a short interest of 3.6 mil. At any good news or an upswing of the stock they will run for cover, (many of them by the force of margin calls). The float is a small one with only 79 mil. shares outstanding and MANY closely held (Price, Fidelity, etc). In essence at any significant rise in the stock price, or as good news sets in the shorts will only fuel the fire adding to a spontaneous upswing. (I was right on several stocks to this effect, one of them was BBY (best buy) exactly a year ago when it traded at $8. It is now $60). b) The March 17.5 calls total 300k, whereas the March 17.5 puts total 900k. It is a known fact that such numbers DO have an effect on stock price within 2 weeks before expiration. It is my assumption that the MM'S who sold these puts are not in a position to lose. (I know some of the lay people will ask well there are buyers of those puts. They obviously don't know the facts of Wall St. Suffice it to say that most options expire worthless). All in all I see strong support here and if I were Raptor I would sell my puts and cover my shorts. However who am I to say. Time will tell.