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Technology Stocks : General Magic -- Ignore unavailable to you. Want to Upgrade?

To: Papillon who wrote (5558)	3/11/1999 3:02:00 PM
From: Mark Oliver	Read Replies (2) \| Respond to of 10081

<Mark, Were you being sarcastic? Regarding those calls: > It's never easy to know what drives an option transaction, but it always involves a buyer and seller. Perhaps the seller is the market maker who then creates a protected position with an off setting put or short sale. It could also be a shareholder who sells the call using his stock to cover if the option is exercised. It could also be a uncovered call where the seller assumes the risk of going to market and buying stock if the option is exercised. It seemed like a valid question though. Was this a buy or sell? Sometimes the available data just doesn't really say. Selling a call is like a short position, especially if it's uncovered, but the rewards are less. I should think truely bearish people would take a short sell. So, like the previous poster, I hope it's a long position. Certainly the premiums going into yesterday were low indicating the market wasn't looking for strong numbers. I took the risk and bought some March 5 calls and ended the day thinking I'd make some money, but you know what happened there. Am I sarcastic, yes. Like many I've been very disappointed. I also planned a series of questions only to find shareholders are not allowed to participate. Instead, some yahoo from Odysey and some other guy I never heard of get to manage the call. Hello General Magic. There are no analysts. You have to answer our questions. There is nobody else. I was told that over 200 people had logged into the call. Probably many of you. I have entered questions into many calls, and with companies with revenues greater than a billion dollars. I realize their fear that shareholders won't maintain order, but that's no answer. I returned from Australia to dig further into this company as well as handle family matters, and to be blocked out of this call really pisses me off. Getting back to this call. It seems clear that it was not traded long on insider news that the report would be good. If there was insider news, they should have known that today was down and then they could buy these 1000 calls for half what they paid. Regards, Mark