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To: Gabriel008 who wrote (43056)5/18/1998 10:55:00 PM
From: jbn3  Read Replies (2) | Respond to of 176387
 
re Market Makers

Gabriel,

If one needed any more ammunition to argue that the price drop last Friday was artificially induced, there it is. I sold the June 100 calls for $6 last Wednesday at a share price of about 96 or 97. Could have bought them back Friday morning (stock price ~7 points lower) for about 4 1/2. Was lucky to get them back this morning for 5 1/4.

Bottom line 1: the market makers knew that the price was going back up. (they just didn't tell LT! <vbg>)

Bottom line 2: remember this scenario next option expiry with announcement right after.
Regards, 3.



To: Gabriel008 who wrote (43056)5/19/1998 12:40:00 PM
From: Sig  Read Replies (1) | Respond to of 176387
 
Gabriel:

<<< Let's hope the Fed doesn't ruin our afternoon>>>
I hear the meeting will end at 1:05 . Report I have is that
several brokerages are guessing that rates will remain unchanged and may actually be reduced later in the year.
SES


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