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To: Ray Rueb who wrote (4115)	11/11/1998 12:33:00 AM
From: dwight martin	Respond to of 10081

Sorry, never mind.

To: Ray Rueb who wrote (4115)	11/11/1998 7:16:00 AM
From: dwlima	Respond to of 10081

options are purchased for many different reasons. one reason may be to hedge. some investors that may have taken a large short position may have picked up the nov. calls just in case there is some good, unexpected information. another reason is straddles, whereby someone with plenty of puts would like to add to their call position and try to profit on gmgc volatility this week and next week. another reason is pure speculation...people writing the calls and people buying them. for as many contracts as there are to be bought, that is how many are being written by others who are betting the stock will not exceed strike price + premium. good luck to all