Cisco Systems, Inc. (CSCO) Message Board

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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 75.26

+1.2%

Jan 15 3:59 PM EST

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To: Jimbo who wrote (39664)	8/24/2000 8:18:43 AM
From: t2	Read Replies (1) of 77400

what big put sale - missed it what strike a lot of oi on the 60s. Sept 60 puts. Prior to earnings someone bought 54000 contracts of puts which sent Cisco stock tumbling down to a level below 60 from the mid 60s. That put trade caused selling of the stock. Now with the sale of puts by that same firm (it is believed to be the same), it generates buying of Cisco stock. Note that trading volume was about 62000 contracts on Tuesday --late afternoon). It suprised me why the stock did not rally strongly on Tuesday but i guess we are getting our buying now. Lets hope it is sustained buying for a while. The other interesting thing on Tuesday was the trading of Sept 70 calls of about 12000 contracts. I don't know the significance of that one but I am speculating that investors are betting on pop in the stock--just a hunch. The volume of trading in those puts was extremely high and that is why it catches everyones' attention. However, CNBC did not talk about the transaction on Tuesday like they did when the initial trade took place before the company's earnings were out.

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