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To: Tradegod who wrote (6466)	6/17/1998 6:01:00 PM
From: J.S.	Respond to of 164684

" I believe that most of the option holders will NOT exercise which will add to the derivative pressure over the next 2 days " If they do exercise it adds immediate pressure on the stock price as it transfers existing shares to option players who will SELL SELL SELL the stock to cash in. Either way this is a very bearish indicator. BTW, at what time can we learn of the new open interest on June Calls and Puts? Joe

To: Tradegod who wrote (6466)	6/17/1998 10:04:00 PM
From: Mike M	Read Replies (3) \| Respond to of 164684

<<Imagine buying a June 45 last week for 3 dollars, it's worth 34 now. I believe that most of the option holders will NOT exercise which will add to the derivative pressure over the next 2 days >> Really interesting....but why won't people exercise the call options...It would be difficult to let a $34 option expire worthless wouldn't it? Seems to me that somebody has to be holding the option the day it expires if it hasn't been exercised before that....please explain what you mean by derivative pressure. Thanks, Mike