SIEBEL SYSTEMS

U.S. Options-Siebel Systems draws interest, shares up

       
      MONDAY, SEPTEMBER 25, 2000 3:03 PM
      - Reuters

     CHICAGO, Sept 25 (Reuters) - Volume picked up slightly on Monday in options on Siebel Systems Inc.
     (NASDAQ NM:SEBL) and implied volatility edged upward as the stock hit a new 52-week high.

     After midday, roughly 7,600 calls and 2,300 puts had changed hands on the four U.S. options
     exchanges combined, above the daily average turnover during the last month of about 8,850
     contracts, according to Track Data figures.

     Busiest were the October 125 calls, which rose 15/16 to 1-7/8 on combined interexchange volume of
     about 1,850 contracts and open interest of 470. The October 115 calls showed combined volume of
     around 1,205 and open interest of 599.

     Implied vols for the at-the-money October 110 options ticked upward to about 60 percent.

     "Vols are slightly higher, a couple points," said Anthony Carone, designated primary market maker with
     Cloch Trading at the Chicago Board Options Exchange.

     The stock's one-month historical volatility stood at about 63 percent.

     "We has a couple institutional-type sellers of calls earlier," Carone said, noting "very mixed" interest
     from retail in the higher-strike calls plus some play in the October 120 straddle.