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Technology Stocks : PSIX up 26.5%, Takeover(?) -- Ignore unavailable to you. Want to Upgrade?

To: Ed Frye who wrote (2175)	3/13/1998 12:23:00 AM
From: Matt Webster	Read Replies (2) \| Respond to of 5650

Huge volume in Apr 7.5 and 10 calls. Volume in the 1000-1500 range, which is several times the previous open interest. Does this signal a takeover, or does it signal market makers selling calls against the expectation of a peak in Internet stocks? I can't decide. Market cap of $425 million or so at 10.5/share. When does market cap become absolutely ridiculous relative to fundamentals? Not overpriced but tulipmania? $1 billion seems a stretch but still reaonable, 2 billion seems maniacal. Anyone disagree. I'm thinking a nice bull spread. Matt