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To: ViperChick Secret Agent 006.9 who wrote (53938)	9/26/1998 2:35:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 58727

I am by no means an expert and your source for this is better than my senile recollection but in light of his original question, he was asking about an exceptionally large trade at a lower price. I was hoping Steve Goldman would give his answer but I believe what happens on a large block like that at a lower price on a filtered trade is... Someone wanted to buy or sell 250,000 shares on a stock that trades that in an entire day. As such the pit boss, MM whatever depending on the exchange, starts accumulating the required shares over the course of the day and holding onto them until he/she has enough to execute the trade. Since this took a long time at various strike prices, the average of the trade is used as the execution price thus once the shares change hands as one large block, that price is recorded "at other than the current rate". I may be out in left field but that is the way I understand those when it happens on occassion. Lee