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To: Jay Rommel who wrote (17444)9/17/1998 10:14:00 AM
From: OtherChap  Read Replies (1) | Respond to of 164684
 
>Who the hell is buying this sh*t today???

Simple. Every put or call that is written is hedged by going short or long the underlying security. When you write a put, the market makers short the value of the shares you control. They don't really care if the options go up or down, just whether they get the time premium and the spread.



To: Jay Rommel who wrote (17444)9/17/1998 10:23:00 AM
From: Box-By-The-Riviera™  Read Replies (1) | Respond to of 164684
 
Who the hell is buying this sh*t today???

A group of summer vacationers who caught an especially viscious form of Egyption flu... DENIAL.