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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (46969)2/13/1999 3:54:00 PM
From: accountclosed  Read Replies (1) | Respond to of 132070
 
Nice letter to Barrons, MB.



To: Knighty Tin who wrote (46969)2/13/1999 8:02:00 PM
From: Michael Bakunin  Respond to of 132070
 
My pal who used to trade tech options on the Pacific explains it as human nature. On the way to a strike, volatility comes in, since nobody believes the underlying will actually break the strike.

As the underlying breaks the strike, traders flip and vol gets pumped. If the underlying continues past the strike, things calm down a bit, vol comes in, AND the option starts to act like stock.

Dunno if I buy it,

mb


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