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Non-Tech : Any info about Iomega (IOM)?
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To: N4ZQ who wrote (24354)6/5/1997 12:22:00 AM
From: FuzzFace   of 58324
 
> how do I deal with the large call purchase before Iom crossed $19.50 ????...<

My theory is this. The boys in a position to know how much resistance was left at 19 3/4 after Tuesday's fierce closing fight, knew it was not much. At the open they hung back waiting to see if IOM collaped for lack of buyers. When they saw the buyers materialize, they started buying calls, knowing resistance would probably be broken. Perhaps they had a computer program that automatically bought the calls once the stock reached 19 1/2. Seems a pretty savvy move regardless of how they did it. The only gamble was whether the breakout could advance far enough to boost the call price significantly. I'll wager it did.
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