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Technology Stocks : Lucent Technologies (LU)
LU 2.645+0.8%Dec 8 3:59 PM EST
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To: CHUBfitz who wrote (1034)11/23/1997 12:28:00 PM
From: Greg Jung   of 21876
 
CHUB, LU has had a lot of option speculation, has not been one that attracted a lot of puts, so options expiration put sell pressure on it (when you cash in your option, the buyer shorts stock to have a zero delta). With no other significant news to move it, this volume can then bring a dominating price swing. See reply 979 where I mentioned the bias towards 80. Also known as the principle of maximum pain.
Never rely on it, however, I myself believe the stock is fully valued and more. But compared to Rambus(120x'99earnings) it is cheap!
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