Global Crossing - GX (formerly GBLX) Message Board

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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: ronin who wrote (2026)	9/21/1999 3:55:00 PM
From: M. Frank Greiffenstein	of 15615

Out-of-money action... Ronin, there is nothing going on with the smart money. GBLX could not reach 70 by October under the rosiest scenario, LOL. You are describing hedging activity. Probably people with put leaps (long term bearish bets) or people short the stock are hedging their bets with out-of-the-money calls. Just insurance. And Oct70 calls are awfully cheap. Multiply 4000 contracts (400,00 shares) by the premium, and you will see that's not much dollar volume. DocStone

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