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To: tuck who wrote (10685)	5/10/1999 10:53:00 AM
From: tuck	Respond to of 14162

Now PHLX shows EDFY June 10s going for 4.50 to 4.12. I can probably assume they've got the right prices, except backwards. The May 10s are 3.50 to 3.75 with EDFY last seen at 13 3/8, but it's already traded one million shares. Thought folks paper trading might like a glimpse of the real world of option pricing! ;~) Cheers, Tuck

To: tuck who wrote (10685)	5/10/1999 2:19:00 PM
From: Dan Duchardt	Read Replies (1) \| Respond to of 14162

tuck, As you have seen by now, things just kept going to 16_1/2 before pulling back. The May10s opened at 2_7/8 x 3_1/8 and never went lower. Seems most of the day the ask on the May10s was the same as the bid on the June10s. Don't think I ever saw the June10 bid more than 1/4 above the May10 ask, and it always leveled very quickly. Would have been a fantastic day to leg up, covering the May10s around 3_1/4 early and writing the June10s later for around 6. Who would have thunk it!! Hope you were able to grab some piece of that for yourself. I had taken a paper position after you first alerted us to EDFY, buying EDFY at 10 and selling the May10s at 1_9/16. At the open this morning I rolled up to the June 12_1/2s for a net cost of 3/8. Thought I should at least put my paper money where my mouth was after our earlier conversation. (Of course it's impossible to say if I would really have gotten executed, but it looks like there was plenty of time.) Looks pretty nice at the moment with my NUT at 8_13/16, and an upside of 3_11/16 (42%). We'll just hope EDFY holds up now. The June 15s opened at 2_1/2 x 2_7/8 at 11:13am. The May10s were at 4_1/8 x 4_1/2 at the time. So for the really adventerous, for $2 you could have increased your upside by $5. Doing it as I speak would cost $3. Way too risky compared to the June12_1/2s. RE: your quotes. I've mentioned before that I subscribe to myTrack and I am pretty much satisfied with what I am getting. for $40 + exchange fees each month, I get reliable information that is seldom slowed by network activity. For an extra $15, I could have dynamic options chains, but I don't think they are needed. I had an easy time tracking EDFY along with other things I was watching today. It's a relatively small cost compared to the price swings we were seeing today. Dan