TABLE: Why Are These Options Spreads So Wide?

BUSINESSWEEK ONLINE : APRIL 26, 1999 ISSUE

COVER STORY

Why Are These Options Spreads So Wide?

	Recent bid-ask spreads of widely traded Amex options on Apr. 12


COMPANY          TYPE OF OPTION              BID       ASK      SPREAD

AMAZON.COM       APRIL '99 190 CALLS        4 5/8      5           8%
BELLSOUTH        APRIL '99 42 1/2 CALLS     2          2 1/4      13
ELI LILLY        APRIL '99 85 CALLS         5 1/8      5 5/8      10
INTEL            APRIL '99 55 CALLS         6 3/8      6 7/8       8
LUCENT           APRIL '99 52 1/2 CALLS     6 3/4      7 1/4       7
MERRILL LYNCH    APRIL '99 95 CALLS         5 1/4      5 3/4      10%
MOTOROLA         APRIL '99 80 CALLS        21 1/16    21 5/16      9
PFIZER           APRIL '99 145 CALLS        5 3/8      5 3/4       7
PHILIP MORRIS    APRIL '99 35 CALLS         1 1/16     1 1/4      18


DATA: BLOOMBERG FINANCIAL MARKETS

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

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ONLINE ORIGINAL: Why More Investors See Options as a Necessity

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