Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 220.42

+4.9%

Dec 12 9:30 AM EST

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To: A. Fineigler who wrote (14602)	9/26/1997 7:46:00 PM
From: Carmine Cammarosano	of 61433

Fineigler, at 11:43 AM EST the Bid/Ask was B=26 7/8, A=27 1/4...at that point 1000 contracts went through at 26 7/8...one would assume this was a sell, although you can not be sure of this...a few minutes later, 60 contracts went through for the same price. At 11:47 EST the Bid/Ask went up to B=27 and A=27 3/8...now isn't that strange? You would expect the Bid/Ask to go down if so many contracts were sold...I would think that because the stock(ASND) didn't move that much today, that the price of those contracts moved solely because of the heavy volume in those contracts(buying causes the price to go up and selling causes the price to go down)...In addition, no one was closing their positions in those contracts because the open interest was only 84!!!Who ever was involved in that trade was opening their position and not closing their position and on Monday we will see the open interest over 1060...and if we see an open position of 1144, then we know for sure that no one closed their positions!!

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