Abstract
Many functionals on the space of bounded analytic functions on an annulus are defined in terms of a multiplier sequence for the Laurent series. This paper studies the norms of such functionals in terms of a real valued function which induces the functional by integration along the boundary. An application is that symmetric partial sums of the Laurent series give functionals of norm 1 on proper subannuli. Another is a characterization of the Hilbert space operators having the annulus as a spectral set.