Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 205.50

-1.5%

Dec 5 9:30 AM EST

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To: Duke who wrote (54502)	9/21/1998 11:21:00 AM
From: Jan Crawley	of 61433

Hi Duke, I believe that we are getting back part of the Lu buy-out premium today and maybe more in the next few weeks. Shorts cannot afford not to cover or minimize their risks via options. I am looking at the options premiums for both Oct calls/puts, and both are quite expensive; the put premiums are actually higher right now than earlier this morning, as Asnd price has moved higher. A few weeks ago, I was lucky and wrote 5 Oct 40 puts for $7 premium and covered the Asnd short shares (only long SRA shares now) for the Arb. position. I just wrote 4 Oct 45 covered calls for $6 5/8 and 5 Oct 50 covered calls for $3 5/8 to balanced my Asnd position somewhat. Holding 750 Asnd and 700 Sra long shares.

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