predictive value in option prices?

["David Folster" <mr_bond@xxxxxxxxx>]

List,

Is there predictive value in options prices?  The reason I ask is that, I
would have thought that for options that were "exactly" at-the-money, puts
and calls would be worth roughly the same.  But I went and checked at the
money bond options, and the april 103 call was valued at 30 while the april
103 put was going for 1'42.  Does this mean bonds are heading south?

Also, I checked the at the money quotes for six days ago (roughly 105).
Again, puts WAY outvalued the calls....and here we are 6 days later and
$2000 lower in bonds.  Any insights in to this?

Thanks,

David

PS someone mentioned a while back that within 2 strikes, bond options were
fairly liquid, but even the ATM strikes had very spotty charts.  How much
slippage is to be expected?