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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Walt Corey who wrote (43949)	5/20/1998 6:08:00 PM
From: Gary Wisdom	Read Replies (1) \| Respond to of 176387

Anyone see this in WSJ on Dell puts today? Seems like Mike is buying back stock. Bear Stearns reportedly bought more than 25,000 of Dell Computer Corp.'s (DELL) out-of-the money November 55 puts, a trader at the Philadelphia Stock Exchange said. The reasoning behind the trade isn't immediately available, but it's possible that these contracts are being sold as part of a corporate-stock buyback program. Other large technology companies have been known to use options to supplement buybacks. The trader said he believes that it is the largest trade that has ever been made in Dell's options. The order was set to be filled at 2 by a variety of firms, but one of the firms dropped its price to 1 7/8 in an attempt to get more of the order, the trader said. The November 55 put is now up 1/8 at 1 7/8 on volume of 34,825 contracts, compared with open interest of 337 contracts. Dell stock is down 2 29/32 at 91 11/16.