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Technology Stocks : CMGI What is the latest news on this stock? -- Ignore unavailable to you. Want to Upgrade?

To: Mark Peterson CPA who wrote (8544)	5/24/1999 1:56:00 PM
From: SHGLaw	Read Replies (1) \| Respond to of 19700

Now I find Mark to be such a calming influence. Always reason, never panic. It surprises me to hear Jenne talking about 150, which is slightly more than a day's trading range under other circumstances. Similarly, the inflationary pressure is more a product of public sentiment than reality. It must be there since things can't continue on this way. Nonsense. The inflation/unemployment cycle has been broken, and old dogs must learn a new paradigm. For those who still harbor fears, consider that the July 260 calls are at $12 when 45 points out of the money. Outrageous, unless one considers that it would hardly be shocking to have this stock at 300 before expiration. Now isn't this a crazy world. SHG

To: Mark Peterson CPA who wrote (8544)	5/25/1999 1:03:00 AM
From: Carl R.	Read Replies (1) \| Respond to of 19700

The volatility in the options suggests that the underlying stock is expected to go UP and DOWN. A minor point, but if all the demand for an option is on one side, say down, the premium will still rise on the other side because you can create synthetic positions. For example you could but a 200 put. Or you could short the stock and buy a 200 call, which is essentially the same position. Thus a rising volatility premium for puts implies a rising price for calls even if there is no expectation of a rise. Carl