VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Zeev Hed who wrote (9432)	3/15/1999 10:52:00 PM
From: I. N. Vester	of 27311

My experience in exercising several hundred contracts right around the money at 5 last year: actually i did this twice, with maybe 300 contracts. I exercised a bit early expecting somebody to have to buy to cover the contracts but saw zero pressure or increased volume. I think the options MM was just holding the shares. The other time I exercised on the friday - i thought the MM was keeping the price down right around 5. I exercised anyway, expecting a bounce back on Monday. Actually Monday the price moved further down into the 4's! I kinda shot my own foot. Didn't see any extra buying to sell me my shares, either. It's hard to tell, but in the scheme of things the open interest does not appear big enough to make a significant difference. You wouldn't be thinking of opening a long position, would you cousin Zeev? Maybe getting tired of that ULBI you bought?

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