Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: ViperChick Secret Agent 006.9 who wrote (46226)	6/17/1998 10:32:00 PM
From: ViperChick Secret Agent 006.9	Respond to of 58727

Wednesday June 17, 8:19 pm Eastern Time U.S. OPTIONS/OEX volume up ahead of expiration CHICAGO, June 17 (Reuters) - Trading in S&P 100 (^OEX - news) options was brisk on Wednesday as the index rebounded sharply and traders adjusted positions ahead of the expiration of June index futures and options contracts. The index closed 9.08 points higher at 537.47, boosted by news that U.S. and Japanese central banks intervened in the foreign exchange market to boost the yen, which had sunk to eight-year lows. The Market Volatility Index (^VIX - news), which measures implied volatility of several strikes on OEX options, fell 1.93 points to 23.23 as anxiety about Asia eased, traders said. Volume was bolstered further as traders adjusted positions ahead of expiration, they said. ''Volume in the June 540, 545 and 535 (options) exceeded open interest today,'' noted Michael Schwartz, a managing director at CIBC Oppenheimer. ''That's an indication that people could be going long to hedge the SPX (S&P 500 options) which expire tomorrow,'' he added. He said much of the open interest in the June contracts appears to have already been closed or rolled over into deferred months, which means the impact of expiration on the market at the end of the week is likely to be limited. Among individual stock options, trading in Triton Energy Ltd. (OIL - news) call options was active. ''It looks like the company is getting ready to announce its asset sale,'' said Larry McMillan, president of McMillan Analysis Corp., which tracks options trading. The underlying stock rose 1 to 35-11/16. The company in late March told an analysts' conference that all or part of the company might be sold. Since then, implied volatility on its options has been rising. The August 40 calls drew the most volume, with about 1,200 contracts trading between the American Stock Exchange, the Chicago Board Options Exchange and the Philadelphia Stock Exchange. A total of 3,635 calls traded compared with 199 puts. ------------------------------------------------------- biz.yahoo.com