Glenayre Technologies(GEMS)- a pure cellular PCS play? Message Board

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Technology Stocks : Glenayre Technologies(GEMS)- a pure cellular PCS play?

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To: Chisy who wrote (3298)	3/3/2000 11:19:00 PM
From: Steeny	Read Replies (1) of 3431

Well, someone(or some institution) paid @ $100,000 for call options which expire in 2 weeks just as the market was closing. Most likely, they are placing a large bet that GEMS is going to move up sharply very quickly. Why they think this, your guess is as good as mine. The size of the bet makes me think they know something. It's also possible that someone is hedging a short stock position. This is less likely as it's not so easy to get short 70,000 shares of GEMS. A final possibility is that the institution was actually selling calls to MMs to protect a long position. Very unlikely-premium is too small to make it worthwhile. Looks like a bet that GEMS will move higher fast. I will be watching to see if our "friend" exits this position' I am long and thinking about loading up on some more next week.

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