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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: B.REVERE who wrote (31770)	10/16/1998 12:47:00 AM
From: donald sew	Read Replies (3) \| Respond to of 94695

Revere, >>>>> Tommorrow may be down? There's a 99% probability of that. The first sign of any weakness tomorrow will quickly snowball. Without any puts in the money, the mm's will have to sell equities to pay for the sale of the calls. <<<<<<< I have similar thoughts, although they may not be as strong. Many are expecting the market to zoom tomorrow, and at the open it may, but once there is a noticable dip, such could intensify. I may be way off base - basicly most of the OCT puts are dead now. But the calls bought over the last 2 weeks are doing great, maybe a bit too great for those who sold them, meaning the big boys. I just checked the open interest for the OEX OCT 485's-515's and there are 87991 of them. Im far from an expert in this area, but just feel that with the leverage of the calls, those who sold them may do all they can do to have as many of the calls expire worthless. Hey, an OEX OCT 500 call purchased this week may have cost a few bucks, and now they are worth about $15. The open interest on the OEX 500/505/510 is 40,381. Am I making any sense????? seeya