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Re: OPTION VOLUME

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-----Original Message-----
From: Ira <ist@xxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, January 07, 1999 12:09 PM
Subject: Re: OPTION VOLUME


>Half,  have to go out worthless.  If all the calls are in the money, logic
says
>all the puts are worthless.  Ira

        Hi Ira,

        I'm afraid it doesn't work that way.  Today's open interest for a
Jan. OEX 630 Call was 9982 contracts.  The open interest for the Jan. OEX
630 Put was only 3313, about !/3.  Just because a put and a call have the
same strike price (630) does not mean the same number of contracts will be
sold.  If the OEX where to close at 627 on expiration day (and the open
interest remains the same) the 9982 calls would be in the money but only
3313 puts would expire out of the money.

                                                        Good luck and good
trading,
                                                                    Ray
Raffurty