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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: steve goldman who wrote (3698)	10/4/1998 12:20:00 AM
From: Mark Oliver	Read Replies (1) \| Respond to of 4969

Steve it was suggested I ask you a question about a recent options trade I saw involving Quantum calls. It involved a 1000 contracts of which one block was 500 and the others were mostly 50's that all traded at the same time at the same price, which happened to split the bid/ask. The calls were pretty deep in the money. Oct 10's when the share price was about 16. Before the trade, there was no open interest, and there was no open interest the following day. The next day, a similar trade happened for 500 contracts. I had been thinking watching open interest indicated something about the options that could be influencing the share price. Sometimes, I see a lot of open interest on a strike and assume the powers that be will move to bring the share price to a level that will close the options worthless on expiration if it's not too costly. Any ideas what would have motivated these transactions? Regards, Mark