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

To: donald sew who wrote (37117)	3/21/1998 11:36:00 AM
From: ViperChick Secret Agent 006.9	Read Replies (1) \| Respond to of 58727

hmmm..interesting tick was -492 at the end of the day according to quote.com exchange2000.com

To: donald sew who wrote (37117)	3/21/1998 5:37:00 PM
From: Autumn Henry	Read Replies (2) \| Respond to of 58727

BTW the talk on CNBC is the tremendous inflows of money along with the end of quarter window dressing is it? The fact that being "uninvested" by funds right now is neg. The idea that those waiting for the pullback and the arch crawford prediction in March may have to jump in before the end of quarter ANYWAY to look like they are invested. Also the 9000 is like a magnet. Also human nature is to party for it. Of course there is then fear once reaching it. Remember a month ago some technical analysis guys talking about the reverse head and shoulders pattern on spx and the fact they expected a PARABOLIC rise starting on FEb. 6th....which has indeed happened. Saw that female Technical person, that "high up there" lady and can't think of her name now on Cnbc last week. She is highly regarded and said reverse head and shoulders too and in the middle of an uptrend bull market which is rare I guess and I forget her numbers now but up there obviously. What I keep wondering about is......if this is the negative pre-earnings time and we are going up then what happens when the good news starts coming out in april? Autumn

To: donald sew who wrote (37117)	3/21/1998 10:42:00 PM
From: Patrick Slevin	Read Replies (2) \| Respond to of 58727

Just a guess but I think Monday is positive. Too much follow-through from Friday, then Tuesday closing lower with the high around 10 or so our time. The problem for the next week is window-dressing. My guess is we do not get serious about any decline until April first. After that point my stuff has a gradual decline of 1400 points on the DJIA. If that does not happen I shall not get upset.....my trading is so short-term that I probably won't make a killing on it anyway. I was amused by Chevron, however. And I hear XON and MOB also made nice moves. Stocks like that were integral to continuing the upside bias. Once the techs laid off the community needed leaders from the Senior Averages and Chevron was a key to keep the motion going. But my personal view is that this cannot last, as earnings are below where reasonable value should be assigning stocks. As usual, if and when, the decline occurs every analyst on the beat shall point this out. Fact is, the decline should occur and they should be pointing it out now. But if I knew so much I'd be on the cover of Money magazine.

To: donald sew who wrote (37117)	3/22/1998 3:10:00 AM
From: Heg Heg	Read Replies (1) \| Respond to of 58727

Donald, thanks for your Index Updates. Here is perhaps some food for thought: On Friday morning during the initial decline of the NDX I was pricing several options to compare bid and ask pricing. My expectation would have been that at least the NDX options would have priced the puts higher than the calls, because the decline was in progress. Alas, it was exactly the other way around: the calls were priced higher than the puts, and the story was the same for several other indexes. The exceptions were SOX, XCI and OEX. Looks to me that a general uptrend expectation has been priced in by the MM? The data are below. I compare pricing by comparing the implied volatility of options. Any thoughts? Regards Hý SYMB STRIKE LAST BID ASK SPREAD IVBID IVASK OEWDD 520.00 521.13 10.13 10.50 0.3700 15.29 16.00 OEWPD 520.00 521.13 8.00 8.38 0.3800 16.31 17.01 NCZDN 1170.00 1173.94 35.50 38.50 3.0000 24.67 27.03 NCZDP 1180.00 1173.94 30.13 32.13 2.0000 24.35 25.92 NCZPN 1170.00 1173.94 25.75 27.63 1.8800 22.89 24.35 NCZPP 1180.00 1173.94 29.88 31.88 2.0000 22.21 23.77 RUTDN 470.00 473.83 10.25 11.75 1.5000 14.20 17.25 RUTPP 480.00 473.83 9.63 10.38 0.7500 13.42 14.90 (here its extreme: puts significantly cheaper priced than call!) XALDR 790.00 792.58 28.00 29.00 1.0000 29.39 30.57 XXAPT 800.00 792.58 26.38 27.38 1.0000 27.32 28.50 SOXDT 300.00 287.36 9.13 9.63 0.5000 44.43 46.00 SOXPR 290.00 287.36 14.00 15.50 1.5000 41.46 46.31 XCIDR 490.00 489.39 15.13 15.88 0.7500 27.40 28.81 XCIPR 490.00 489.39 14.50 15.25 0.7500 27.87 29.28 NCZDN 1170.00 1173.73 34.50 37.50 3.0000 24.00 26.35 NCZDP 1180.00 1173.73 28.13 30.13 2.0000 22.89 24.45 NCZPN 1170.00 1173.73 26.13 28.13 2.0000 23.10 24.67 NCZPP 1180.00 1173.73 30.00 32.00 2.0000 22.25 23.79