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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (16659)	4/16/1998 1:19:00 PM
From: Patrick Koehler	Respond to of 94695

tippet - I am responding here instead of the MU thread where you posted to me. First, I would never trade an option on a stock with such little volume (<69k so far today), or such little open interest (177 according to CBOE site). The answer to your question is simply based on supply and demand. No one wants your puts, because they think the stock is going up, and it has, since you posted, from 110 5/8 to 111 7/16. The intrinsic value is now only 8 9/16, less than the 8 3/4 that you mentioned in your post. Did the person at the CBOE know something you didn't? Re-read the 2nd sentence in the 1st paragraph. Patrick