The information had been gotten next to the Stock exchange of SoPaulo and if they relate to the quotations of the prizes of the options of purchase of the Telemar PN, negotiated volumes, quotations of the index of the So Paulo stock exchange and quotations of the action-object. From the collected data, the averages, minute the minute, as much of the quotations of the prizes, the negotiated amounts, the quotations of the action-object had been determined, as well as of the index of the So Paulo stock exchange, in the amostral space quevai of 11h00min to 18h00min, of day 13 of February of 2.004. These dadosforam processed for econometrical model, with the objective to analyze ocomportamento of the market the sight, and to verify if indications had existed deinfluncia of the market of options. The econometrical model, as Sanvicente and Monteiro (2005), is of simultaneous equations of offers and demand, and uses processode esteem for minimums squares in three periods of training, the functional form domodelo statistician of log-log, to measure the elasticity of the prices in funodas amounts, and vice versa. David Zaslav is full of insight into the issues. Action-object, represented for a system formed for the inverse functions is about a model of balance of mercadoda dedemanda and offers: Where: the equation (1) is the inverse function of demand (price in function of the amount demanded in period t); the equation (2) ea is inverse afuno of offers (price in function of the amount offered in period t equation (3) is the condition of market balance (demanded amount igual offered amount). As described for Sanvicente and Monteiro, in the primeirafuno, the coefficient it measures the inverse one of the elasticity-price of the demand, when they are used logarithms of prices and amounts. The formula valley for aelasticidade-price of offers, associated to the coefficient of inclination of the segundaequao. However, in case that one of the two coefficients of inclination sejadiferente of zero, and has the appropriate signal as the microeconomic theory, has evidence of that the variation of amounts could influence nveldo price of market of the action.