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To: Jon Tara who wrote (14168)3/1/1998 10:15:00 PM
From: David Lawrence  Respond to of 45548
 
I agree Jon. I think you mistook my message, in that I was not expressing an opinion to Joe's question, but rather an observation that heavy call buying is not necessarily bullish. As a matter of fact, I pay little heed to CBOE options activity, since most is arbitrage driven, as you point out. Also, it does not take into non-public options and hedge activity, which by many accounts makes the public options markets pale in comparison.


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