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Technology Stocks : EMC How high can it go? -- Ignore unavailable to you. Want to Upgrade?

To: Ron Flanigan who wrote (3915)	1/21/1999 3:41:00 PM
From: SJS	Respond to of 17183

Here's a very intersting point. Yesterday the EMC FEB 90 PUTS closed at 3, with a bid of 2 7/8 to 3 1/4. With the stock at 100. Today, with the stock at 100 (going into the close of the day), these same puts are 3 3/8 bid, 3 5/8 offered. In other words, just for the "negativity" of the day and because EMC went down to 95ish (although it recovered very nicely, I must admit), put sellers are going to realize more money today when selling at the same stock price of 100 than if they sold yesterday at 100. Put buyers are going to pay more for the priviledge. Moral of the story? Wait to sell put on down days for 2 reasons: price appreciation and SENTIMENT.