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Buyer looking for 20,000 IBM JAN 70 puts bidding $0.55

if he would buy 2 million of them i would be impressedbut 20k thats just 11 thousand dollars if he gets them for 0.55.

But they're so far OTM with so little time... like tossing $$ down a well.

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Buyer looking for 20,000 IBM JAN 70 puts bidding $0.55

if he would buy 2 million of them i would be impressedbut 20k thats just 11 thousand dollars if he gets them for 0.55.

FX,

 

I should have said 20,000 contracts which is equiv to 2,000,000 shares or $1.1m at the bid. Although he looks to be raising his bid slowly to bring in blocks. Pretty aggressive trade. I am hearing that software sales at IBM are way below plan. IMO no way they make their revenue target. I am also short a lot of IBM so I could be talking my book.

 

MO scheduled mandatory meetiong for all employees on 1/6/03. Could be bad news. I am protecting a large long position with jan 40 puts @$0.5

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Huh, and IBM is actually up .45 to 80.71 right now when SPX is down .83.

 

I've been wondering when to add the other half to my short position......

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Market Status (12/23/2002) :

Despite the resistive volume we saw to the upside for the Nasdaq 100 and S&P 500 indexes yesterday, the market moved higher today. As we mentioned before, the relatively low volume that dominates this time of year can cause the market to be somewhat more volatile than usual. The VMA spike to the upside yesterday did move the market lower yesterday afternoon, but not as much as expected. Due to this we have to say that the resistive VMA spikes to the upside are beginning to accumulate, and due to this the market has to react by moving lower soon. Therefore, we believe that in the mid and long-term the market will continue on a downtrend, but in the short-term the supportive volume that we saw today could move the market higher for a short-term. Our outlook for the mid and long-term continues to be down.

 

sniff's volume site.

The next message will be from the same site. They are very accurate in a general sort of way.

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Betting on a breakeven of IBM at 69.45 by 3rd Fri in January.

Or if it drops precipitously even to below 75 by end of first week of Jan., could be a nice profit there.

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Market Stage (12/23/2002) :

On November 21 there was a large VMA spike to the upside (30-Day chart with a 1-Day VMA) that caused to market to change its trend. Due to the absence of any significant supportive volume for the Nasdaq 100, we have concluded that the market must be in a downtrend, but there is a chance for a mid-term retracement to the previous local highs. Currently we do not suggest placing many trades during the later part of December because historically the market becomes fairly volatile during this time of year.

 

Flood control came on a little earlier. Odd with only 30+ members.

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