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To: joe who wrote (21739)9/21/1998 3:15:00 PM
From: David Lawrence  Read Replies (1) | Respond to of 45548
 
What you can conclude is that there is some money that wants to leverage off an expected pop in the price, and an equivalent amount of money that expects the exact opposite. Remember, someone is writing each of those contracts. The "smart" money is typically (but obviously not always) the party that writes the contract and collects the premium.