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To: Glenn D. Rudolph who wrote (6763)	6/19/1998 12:34:00 PM
From: Sanzen	Read Replies (1) \| Respond to of 164684

The market makers have 40% of the in the money calls closed now. I suspect they will stop buying shares and the stock will start a recently rapid fall. Glenn, Do you mind to elaborate this a little bit? Are you saying that MM bought calls and they are keeping the price up while closing their calls to collect their money? I would appreciate your response. By the way, congratulations. You and many others here are really smart and wise.

To: Glenn D. Rudolph who wrote (6763)	6/19/1998 12:59:00 PM
From: F The	Read Replies (1) \| Respond to of 164684

>>The market makers have 40% of the in the money calls closed now. I suspect they will stop buying shares and the stock will start a recently rapid fall. It is just my opinion, of course.<< Agreed. When the momentum is on the downside, naked calls writers would not buy shares hoping it would go lower till the end of the day. Most who hold in the money calls would take profits and would not exercise the options which left MM to clean up the accounting. I think there would be a selling pressure if MM has too much long inventory and the trend is downward. If it is on the upside momentum, buying pressure from MM would double wham the increase of stock price. I think that had happened till Wednesday that MM must have had been in the buying spree till Wednesday for hedging. My observation during the week of triple witching expiration, usually it brings the stock price even higher till Wednesday or early Thursday because of the buying pressure for stock with the upward momentum. I can't really explain that clearly. I would keep observing and see if my observation can support what I think or it is just coincident. Glenn, I would like to daytrade put option like what you do. May be Oct just in case I have to hold because of wrong short term direction, I can at least hold it till then. I lost lots of money in this AMZN put options. It cost me about $5000 for June options which are expiring worthless; however, if the tomorrow exdate can be extended in a week or so, it would probably make money. I have to do a dual purpose and have a lot to catch up my losses. ANY SUGGESTIONS of what OCT puts would you recommend? at, in or out the money. I am comparing the premiums with different strike price, and the possible return. Thanks Felicia