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To: joe who wrote (15223)	4/16/1998 11:10:00 AM
From: jhild	Respond to of 45548

Joe, First off I see that the 1000 contracts passed at a price of 1 at 10:14am. Second I can't really tell if this is closing out OI or new interest. I don't think that OI updates until tonight, but I am not sure on this so if any one knows better, jump right in. All I can tell from that is that it seems that someone thinks that it will be more than 33 1/2 by tomorrow afternoon, and someone else thinks that it won't. Just my 2&cent.

To: joe who wrote (15223)	4/16/1998 11:11:00 AM
From: Mang Cheng	Read Replies (1) \| Respond to of 45548

joe, good observation. Somebody should check the option activity all the time and report to the thread if they see any unusual vol. happening like over 1000 contracts traded on particular expirary. The fact that May 35 (367 contracts) is active and May 30 puts (0 contracts) is inactive - can be intepreted in both ways. May 35 calls are active may means people are shorting the stock and buying the calls as insurance. May 30 puts are inactive means people are long on the stock and see no needs to buy the puts as insurance. People are plucking down money to buy April 32.5 for two days to expire. I don't think they are bearish. Even people closing their positions should be bullish or else they would just let their written contracts expired. Overall, I think the option activity is quite bullish. Mang