Novell (NOVL) dirt cheap, good buy? Message Board

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Technology Stocks : Novell (NOVL) dirt cheap, good buy?

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To: Bruce Weisman who wrote (6083)	12/20/1996 9:28:00 PM
From: Janice Shell	of 42771

Bruce-- I follow up to a point--if they're buying stock and selling calls (fairly short term) I'm fairly happy, but not that thrilled. BUT HELL, I'm really excited if somebody was mad enough to--you're kidding!--sell 10,000 May 10 put contracts against only 400K of stock. If that's how it really is, I can sleep easy with my own May 10 calls. Might even buy more. Is there something (or a great many things?) I don't understand about this transaction? If so, please explain. (Off topic: bummer. Wanted to do a quick short play in MSH puts this morning, but couldn't, because they don't trade the day of expiry, as it turns out. Is this (I ask you because they're an AMEX derivative) because they're European style options? A pity: at yesterday's close they were asking 3/8: coulda made out like a bandit.) Thanks-- Janice

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