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Technology Stocks : Network Associates (NET) -- Ignore unavailable to you. Want to Upgrade?

To: AlienTech who wrote (4923)	4/13/1999 4:22:00 PM
From: Just_Observing	Read Replies (3) \| Respond to of 6021

Today those puts are going for 9 5/8 to 10 1/8. As you might expect there is virtually no time value associated with the put (actually it's slightly negative which means that the market makers are getting rich as if the half dollar spread is not enough). If the stock were trading at 17, then the puts should have been going for 8 to 8 1/2. So someone buying the puts would have placed a buy order when the stock was at 17 1/8 and then got executed for all 2000 of them at 8 3/8. Some one selling the puts would have to have placed the order at 16 5/8 so the bid would have been 8 3/8 and the ask 8 7/8. Since the open interest in that option is 2200+ today, it's not unlikely that it was not a closing trade. It's possible that someone rolled over their April 25 puts to May. Was there a corresponding 2000 block trade of the April 25 puts? I don't want to clog up the NETA site with arcane and speculative discussions on NETA options. So please send me a private message or we can move the discussion to an options site. I don't want to turn off people interested in NETA, though there have been very few of them lately. If you feel that this discussion belongs here, I would defer to your judgement as long as no one protests about our discussion.