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Technology Stocks : Network Associates (NET) -- Ignore unavailable to you. Want to Upgrade?

To: $$$ who wrote (3786)	12/16/1998 1:15:00 PM
From: Just_Observing	Read Replies (1) \| Respond to of 6021

Huge Call Volume on NETA today 2750 deep-in-the-money Dec 40 calls on NETA have traded today. The open interest is only 2095. At 12:44 am, it is the 14th most active option traded today. They all traded at 13 7/8. The bid and the ask now is 13 1/2 and 14 1/4 resp. Cannot tell whether a buy or a sell for sure. The last trade (of 250 contracts) occurred at 10:45 am with bid and the ask on the stock being 53 3/4 to 53 7/8 (same as now). Why would anyone be buying or selling such deep in the money calls with just 3 days remaining? I guess the only answer is that he or she expects a sharp move, both up or down, in the next 3 days. In any case, NETA has high option activity on many days without it having any significant effect on the stock price.