Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 220.42

+4.9%

Dec 12 9:30 AM EST

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To: Dan Foster who wrote (7580)	7/29/1997 3:15:00 PM
From: Andy Riedel	of 61433

Dan, The CXU options are for Cascade which trade at .7 times the price of ASND. So, with ASND at 50, Cascade is at 50 * .7 = $35. So you are buying a call that is still 10 points out of the money for 1 1/4. Ascend would have to hit 64 1/4 before they were in the money. Not a very good trade to me. I was fortunate to buy several of the CXU October 30 calls in June for 4. With ASND at 50, and Cascade therefore at 35, these calls are already 5 points in the money with 3 months left to go. They currently trade for about $8 with today's runup. They were over 10 when Ascend hit $56. Andy

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