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Non-Tech : Any info about Iomega (IOM)?
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To: mark lerman who wrote (7485)9/24/1996 12:46:00 AM
From: Michael Canario   of 58324
 
Options trading is interesting

Before the big runup on Thursday, someone on the Motley Fool board had written about the put to call ratio on Sept 15 was something like 1.7 to 1. Their comment was that this was bearish. However, when the stock went above 15 early on Thursday (due to the boot announcement), the puts became worthless and the calls (about 5000 if I remember) became "in the money". This was a big surprise as everyone expected the stock to go down and the Sept 15 calls would not be "called". When the stock went over 15 I think some options traders panicked and started selling their calls and buying stock to cover since they probably didn't have it and we were only 1 day from expiration. Now add the momentum guys who saw the stock break 15 and then 16 and jumped on, you get fuel to run up the stock.

I don't claim to be an options expert, but it seems to me to be a possible scenario. I would be much more comfortable with this stock if it had steadily climbed from 14.5 to 19 over a period of weeks. As I've said on previous posts, I think that long term this is a good stock - I just don't believe that this year's earlier run to 55 will be repeated. IOMG will have to earn its way up (I think it will, but not as fast as some others would like).

This IMP news (whether it really affects IOMG or not) plus the Fed meeting will make for a real white knuckle day tomorrow. Good luck.
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