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Strategies & Market Trends : BFT: Will the tulip craze ever break down? -- Ignore unavailable to you. Want to Upgrade?

To: dealmakr who wrote (202)	3/27/1998 8:29:00 PM
From: Pancho Villa	Read Replies (1) \| Respond to of 650

>Lot of calls apr. 30 went today. Any comments?< IMO the writers may be writing covered calls in the hope of unloding the stock without depressing the price or they may be writing naked calls based on the expectation of April being a bad month for BFIT, if the perception is that BFIT stock price will do poorly then the call sellers will be happy with a price lower than the one suggested by an options valuation model and thus the volume. Now, the buyers are any one of a number of dummies (?) out there taking an options flyer using as rationale the possibility that if the stock price went up 50% in February (ouch!) it must continue to raise or perhaps people hedging a short position. I wasn't one of them. pancho FWIW all this may be pure BS I am not an options expert.