Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 212.33

+1.1%

Nov 28 9:30 AM EST

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To: thebeach who wrote (32889)	2/2/1998 9:15:00 PM
From: Glenn D. Rudolph	Read Replies (1) of 61433

Someone sold the right to sell ASND at 30 dollars per share until the third friday in March.If the stock stays above 30 between now and then the option is worthless and the seller keeps the money. thebeach, This may seem like a small detail but it really is not. The options you are talking about do not expire until noon EST on the Saturday following the third Friday in March. They are US style options not European style options. The option writer is bullish at the price of 30 as you stated. The anticipation is Ascend will close within above 28 to breakeven. Typically, the put writer is also not anticipating a large run-up in the stock either or they would have sold in the money puts. Glenn

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