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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: Brett Nelson who wrote (3933)	3/30/1998 11:15:00 PM
From: B.REVERE	Respond to of 18016

[OPTION STRATEY]--Brett, have a small position(long)on NN. Why couldn't the strategy to have bought the 20's and sold the 25's short?" That way, if the stock moved to 30, his 20 position tacks on 2 1/2 and his sold short 25's only loses 1 1/2. Am I missing something here? Later,

To: Brett Nelson who wrote (3933)	3/31/1998 12:06:00 AM
From: Ahmed Elneweihi	Respond to of 18016

Brett, You say because the volume is greater than the OI they must have been sold, not bought. Why? Could they not have been bought because they were previuosly sold? In other words people could have been previously short these calls and now they are covering their short. Also, I am not sure if the OI interest figure is today's or yesterday's. I know that during the day, the option volume would change as trades go through, but I do not remmebr if the OI figure changes or is left to the following day to update.