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The OEX 15-minute chart below shows a four-day short-squeeze, over Aug '06 options expiration week, from Tue morning into the close Fri. Until late Fri, OEX Aug 600 calls traded at 0.05, and those calls closed at 1.50, when OEX closed at 601.50. Consequently, it turned out to be an excellent opportunity to make huge gains. Also, I may add, OEX Aug 600 puts above 600 could have been bought very cheaply to hedge calls, in case the market sold into the close. Of course, the danger is OEX closing at 600, which would make the calls and puts worthless.