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Technology Stocks : Ascend Communications (ASND)
ASND 207.04+0.7%Dec 8 3:59 PM EST
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To: djane who wrote (51969)8/12/1998 4:39:00 PM
From: Jan Crawley  Read Replies (1) of 61433
 
Djane,

I will check the balance of the OI tonight and report to the thread tomorrow.

4K Sept 40 puts was traded/opened today; there is an equal number of Jan 2000 puts opened at strike price of $30.

If the current Sept 40 OI is reduced by 4K; then we may assume that some one is closing a previous put position to perserve premium. However, most likely someone is buying the Sept. 40 puts and writing the Jan 000 $30 puts. It seems to be a conservative hedging move to protect a relatively large long position.

Please let's all keep an eye to it for the short-term.
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