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

To: Kevin Podsiadlik who wrote (2650)	9/6/1998 2:06:00 PM
From: John Rowton	Read Replies (1) \| Respond to of 18998

I was referring to FP. I am neither long nor short but I was curious why the oct 25 call went from approximatley 2 7/8 to 2 5/8 when the stock went from 22 1/2 to 18 5/8. the stock lost almost 20% and the option barely moved. just curious

To: Kevin Podsiadlik who wrote (2650)	9/6/1998 3:12:00 PM
From: John Rowton	Read Replies (2) \| Respond to of 18998

I obviously was not very clear in my wording of the statement. I am currently long one stock ( beaten down oil driller) and short 4 others. What I am trying to say about FP is the option activity does not reflect the obvious deteriorating fundamentals and I was wondering why. Look at both the Oct 20 calls and puts and I just cannot understand why there is more premium in the calls than the puts with the obvious problems we are having in the market. Also, notice someone buying over 800 of the obviously rich oct 25 calls. Just something to look at.