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To: Sailor who wrote (10099)	1/19/1999 7:30:00 PM
From: Stitch	Respond to of 11057

Sailor, <<what do you think Feb17-1/2's will be worth in the morning? >> I think you better ask a more wisened options player then me that question. <G> Best, Stitch

To: Sailor who wrote (10099)	1/19/1999 8:50:00 PM
From: Eric	Respond to of 11057

assume the stock will fall, the option price will not fall as much as the stock price because the option price includes the time premium. Tomorrow likely the stock will be volatile, that volatility will figure into the time premium. If the stock settles down the next couple of days, the time premium will decrease quickly. there are two scenarios I see unfolding tomorrow 1) stock opens high but then sells off sharply ... options normally start to trade 10 min after NYSE opens. so stock opens high does not necessarily translate into high option price. that depends on how long into the open the stock stays high. 2) stock opens low but then rebound ... for all the disappointed shareholders who will probably dump at any price at the open.