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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: FMK who wrote (9252)	3/13/1999 5:58:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 27311

Fred, I am not sure how reliable your story about delivery of 100,000 shares is against a block of 1000 calls for this March at $5. Typically there are no more than around 1000 contracts outstanding in the heaviest month and the March 5 has only 605 such contracts. If indeed someone had to cover such contracts, the March 5 would not have closed at a discount having only 19 contracts trade Friday and closing at a discount of 1/8 to the closing price. Furthermore, all the contracts where sold at the low (1-7/8) of the day. If someone was indeed pressed to deliver those 100,000 shares, he would have gone into the market and bought these discounted March 5 contracts himself. I think that someone is feeding you erroneous information. May be it is time to check your sources, they have been misleading you for too long. Zeev You can check my data fro yourself at: edreyfus.com