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Someone knew about the presentation a day later on AWE and T that appeared
later on CNBC. Following that T started climbing.
A few days ago I read an article in the January issue of "Technology
Investor" magazine that had a view on tracking stocks the parent company.
It said the value in tracking stocks is in how they are structured. Some
have zero value and trade on momentum. It also said they were issued at
times when the parent stock was under pressure and believed to be
undervalued in the marketplace. Thus one trading approach was to short the
tracking stock and buy the parent company. That could be a losing trade
while the tracking stock has upward momentum, but when timed it could make a
decent trade.
Your comment about trading done away from the CBOE brings up the issue of
just how timely/realistic are such data streams as the @SCC and @SPC cboe
call and put trins. It amazes me how all the equity option trades could
take place and be reported and the index calculated and distributed and be
of timely use for index/futures trading. The attached chart suggests that
after the opening volatility the trins do have some value. Is it because
much of the volume is electronic? When I see TV shots of waving hands and
then look at the ticks on my monitor it is amazing how its all turned into a
data stream that has trend. This entire process would seem to dictate a
minimum time frame to use in charting that had a relationship between noise
and trend. VIX appears to be very timely.
BobR
----- Original Message -----
From: "The Doctor" <droex@xxxxxxxxxxxx>
To: "realtraders" <realtraders@xxxxxxxxxxx>
Sent: Wednesday, November 29, 2000 5:47 PM
Subject: [RT] Option put/call
> For those of you who follow the p/c over 100,000 A T & T puts were sold
> today, most of the trading was done away from CBOE. If you look at all
> option trading these transactions ... which were not directional in
> nature... could give you funny put/call number. About half of the trade
> was done on the PHLX.
>
>
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxx
>
>
>
>
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Attachment:
Description: "Trins.gif"
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