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Non-Tech : Cendant Corporation (NYSE:CD) -- Ignore unavailable to you. Want to Upgrade?

To: TJG who wrote (1391)	7/31/1998 7:22:00 AM
From: TJG	Read Replies (1) \| Respond to of 3627

Just found this ..Bloomberg..x2... sorry I didn't post with 1st .. quote.bloomberg.com TJG

To: TJG who wrote (1391)	7/31/1998 5:15:00 PM
From: chirodoc	Read Replies (1) \| Respond to of 3627

Options Buzz: Cendant Players Stay in the Game By Gregg Wirth Staff Reporter 7/31/98 2:40 PM ET The dark cloud that has hung over Cendant (CD:NYSE) may be starting to show a bit of a Silverman lining -- or at least that's what some options traders may be thinking. Cendant's chairman and chief executive, Henry Silverman, reportedly has lined up possible bidders for some units of the former CUC International, the half of Cendant apparently plagued by accounting fraud, according to Friday's editions of The Wall Street Journal. This report -- coupled with former chairman Walter Forbes' resignation earlier in the week -- is leading some options investors to believe sunny days may be ahead. The stock of the Parsippany pariah has crept up about 28% since it hit an all-time low of 14 earlier this month and was at 17 15/16, up about 1/8, this morning. Now, after playing the front-month call options earlier this week, option investors seem to be gaining enough confidence to make longer-term bets. Options investors were making bets on the November calls, looking for an increase of as much as another 40% within the next three-and-a-half months. About 4,005 contracts in the company's November 25 calls traded at 3/4, or $75 per contract, this morning; and about 2,050 contracts in its November 20 calls traded at 1 15/16 ($193.75 per contract). However, both trades went out against massive open interest in the strike prices, making it difficult to determine if this was new speculation.