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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Elwood P. Dowd who wrote (31370)	8/21/1998 12:15:00 AM
From: Night Writer	Respond to of 97611

El, Take a look at the October positions being take on calls. Look at the 35 and 40s. I remember some time back when an early 35 position stated developing on the calls when the price was in the 20s. Looks like some folks believe $40 calls are worth the price. This could be a good sign. Of course could be traders buying run away insurance on lower short positions. You can never tell in the option market what the motivation is. Large option positions only guarantee some stock will trade hands if positions are not closed out. They have been a poor indicator of compaq stock price for the last two months. Before that parity ruled on expiration day. cboe.pcquote.com NW