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Technology Stocks : Micron Only Forum -- Ignore unavailable to you. Want to Upgrade?

To: Robert who wrote (42265)	1/15/1999 2:41:00 PM
From: John Graybill	Read Replies (2) \| Respond to of 53903

Not suspicious at all to me, old sport! :-) A year or so ago I calculated the probability that MU would randomly close within 1/8 of a strike price on option expiration as often as it does, and stopped when I reached eight digits on my calculator (10^-8 to 1). True, some of the semi's are getting jacked around, but check out the graph of the DJII itself today. It went up to +130 and has been locked there ever since. But you're right, it's a real work of art keeping it totally flat like they are. They're not even pulling the panic-drop-into-2:30 move today. Just like yesterday, the option action today is overwhelmingly in the Jan 70 calls. Not much action in anything else at all. I'll be watching the close to see if there's a lot of action in Feb 65 calls, which would suggest to me that people are picking the top and anticipating a drop in the near term. If I don't see that, I'll assume that there will be a little mark-up first thing Tuesday morning (markets are closed Monday for MLK b'day) for selling any stock purchased by exercising January calls over the weekend back to its wrongful owners (the public).