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

To: ratan lal who wrote (16691)	4/16/1998 5:27:00 PM
From: Byram	Respond to of 94695

Also..... Just heard Saddam is getting arguementative....says he'll shut off his wells - I think:"Big deal...he doesn't amount to much"..but on CNBC the guy acted as if this might "disturb" the oil markets.... Also calling for a HOT summer & cold Next winter - oil futures may become a play..and they are touting the major oils again.... Whatever....Just thinking out loud. Byram.

To: ratan lal who wrote (16691)	4/16/1998 5:51:00 PM
From: Marq Spencer	Read Replies (1) \| Respond to of 94695

Ratan, A couple of interesting facts to note. As of today's close, the SPX May 1050 Put was 8 1/8 bid, 8 3/8 ask (with over 11,000 contracts traded today). However, the SPX May 1160 call was at $4. It appears that the option buyers consider a 60 point move down much more likely than a 50 point move up! The volume for the puts was 50 times the volume for the calls. I agree with RWS that we might see the SPX bounce to 1115 or so tomorrow. If, after that, if it gets below 1109, we could see 1090 next week. BWDIK. - Brian.