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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: StockMan who wrote (56309)	5/29/1998 6:43:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 186894

U.S. OPTIONS/Intel put spread bets on stock drop Reuters Story - May 29, 1998 17:19 %DRV %STX %US %.N/OPT INTC %MRG V%REUTER P%RTR CHICAGO, May 29 (Reuters) - Institutional funds were seen buying a big put spread in Intel Corp. options on Friday morning, reflecting expectations that the stock, down to its lowest level in seven weeks, will continue to fall, traders said. At 1134 CDT/1634 GMT, Intel stock was trading at 72-1/16, down 1-7/16 on the day and down about 15 percent in the past two weeks. Traders said 4,000 June 65-70 put spreads were bought by funds. That trade contributed to volume, with put volume exceeding call volume 17,600 to 6,900. Implied volatility for June 70 options rose to around 41 percent, up from an average of about 34 percent, amid concerns about the outcome of a looming lawsuit by the U.S. Federal Trade Commission. "We don't know details about this suit. There's only speculation and that's causing a lot of anxiety," said one options analyst. Another trader said there was still talk that Intel, the world's biggest computer chip maker, would issue a profit warning early next week. The company is scheduled to release its second quarter results on July 14. Last quarter, Intel warned investors that it would not meet Wall Street's forecasts.