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Subject:  Re: Options Trading Date:  3/14/2000  9:04 PM
Author:  Biglad Number:  1562 of 8788

Tim -

Perhaps I should have worded it more correctly. You may be correct in saying that the overwhelming number of calls that YOU purchase are "in the money". I congratulate you! However, that doesn't account for the entire market. Nor does it let you know if the sellers or buyers made a profit or a loss with all of the trades. This does not mean that the options are excersized for the underlying stock. I am assuming for the sake of this discussion that even you are not excersizing and purchasing the underlying issue. Rather you are selling prior to expiration for a profit.

In any case, this was a good excersize and probably of value to someone out there. Until later....

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