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

To: John O'Neill who wrote (42463)	1/23/1999 1:18:00 PM
From: John Graybill	Read Replies (1) \| Respond to of 53903

It would just be a guess of one of three possibilities: (a) bought from the specialist to open a position on a big run-up, (b) bought back from the specialist to close out a short from a couple of days earlier (c) sold to the specialist with the intention of expiring worthless. My just-a-guess would be (b), even though I don't see MU closing above 80 at expiration. But let's pretend that it will -- those 80 calls were selling for 6 or so the other day when MU was at 78, and you could hardly go wrong selling 80's if you were in a position to at the time. If you ended up having to deliver the stock, you would have seen your MU position go from 70 5/16 (closing price at Jan option expiration) to 80+6 in five weeks, on top of the 50-to-70 run in the first three weeks of course. Note however that there is non-stop tout-festering by the big boys starting the first week of February and going right through expiration. Unimaginable as 50-to-78 was, they intend to push it as high as possible during that time. It will be relentless.