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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: John Rowton who wrote (2649)	9/6/1998 11:07:00 AM
From: Kevin Podsiadlik	Read Replies (2) \| Respond to of 18998

It is not at all clear which stock you refer to, but regardless, I doubt that phenomenon is abnormal. For one thing, the option has only so much further to go down. Falling by 33% isn't exactly "barely moving". More to the point, once an option gets far enough out of the money, the market for the option dries up completely, and no one even bothers bidding 3/16 or 1/8 or 1/16 for an option whose stock requires a big move even to be in contention. No one is willing to sell that low, anyway, with six weeks yet before expiration.