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FEAR would agree with your last statement..implication of a down move.
BobR
At 12:44 PM 7/22/97 -0300, Glen Jones wrote:
>FYI, at about 12:15 pm ET the volume of August OEX calls was 20,369
>including ~ 10,000 Aug 930 calls. The volume of OEX puts was 10,275.
>Who bought all those 930 calls (unless it was a data error). The
>unadjusted mid day P/C ratio was almost 0.5. Even if there were only,
>say 2,000 Aug 930 calls bought, that would have the mid day P/C ratio
>at a relatively low .84. Some players are betting big on an explosive
>upward move in the OEX. The low P/C ratio would imply a move down.
>
>Glen Jones
>
>
Attachment Converted: "c:\eudora\attach\FEAR, PC ratio.gif"
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