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Technology Stocks : IDT *(idtc) following this new issue?* -- Ignore unavailable to you. Want to Upgrade?

To: Hawaii60 who wrote (2400)	3/7/1999 10:57:00 AM
From: j g cordes	Respond to of 30916

you mean selling calls in the near month?

To: Hawaii60 who wrote (2400)	3/7/1999 11:55:00 AM
From: j g cordes	Respond to of 30916

Most of the activity was the IQJCC's between 2 and 3PM on Friday. I don't have the run showing the largest trade but lets say its 400 calls at 1/2 = $ 20,000. which could be covered (sold) against an ownership of 40,000 shares or about a half million dollar position. If you want to assume that all the calls were sold Friday as insurance against a fall in price then it only represents about a 100,000 shares. Now its possible that someone sees 15 as the resistance area which could be reached on a splurge of good news. They'd be willing to pocket the call premiums and have their stock taken away at 15 on good news, then buy back in after the news selloff or go somewhere else.