Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 209.43

-0.2%

Dec 23 3:59 PM EST

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To: bigpicture who wrote (18261)	10/18/1997 8:33:00 PM
From: Emile Vidrine	of 61433

".I'm thinking the buyout rumor of ASND by LU, as well as BAY are very doable, although I must admit they were very suspect coming one day before options experation with such a huge '35 open interest in the ASND option" We keep hearing that the MMs brought the price up on high volume to cause the huge Oct. 35 Calls (23,500) to expire worthless. This is faulty reasoning. Why would MMs want to drive the price from 33 to 35? The Oct. 35's would have expired worthles both at 33 and 35! Would they be willing to move 19 million shares to cause the 6000 35 Puts to expire worthless?? I don't think its a rational move. Once the price was near 35, then MMs probably played with the price to get it as close to 35 as possible.

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