Ciena (CIEN) Message Board

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Technology Stocks : Ciena (CIEN)

CIEN 210.71

+3.3%

4:00 PM EST

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To: James Edge who wrote (403)	6/18/1997 10:40:00 AM
From: Bob Trocchi	of 12623

James and Tom... I am not long or short on CIEN. Being retired and having some timeI really in a learning stage about a lot of investment ideas. Somewhere on one of the SI threads I believe I remember that MM's like to maxime their profits around puts and calls when they expire. If there is a "buldge" of Open Interest in both calls and puts at a particular price, there is great likelyhood that the price will end up there at close of business when options expire. I checked CEIN again this a.m. and below is what was listed. DESCRIPTION LAST BID ASK CHG HI LO VOL OI C JUN97 30.000 16 1/2 15 15 3/4 0 0 0 0 60 C JUN97 35.000 8 1/2 10 10 1/2 0 0 0 0 138 C JUN97 40.000 6 3/8 5 5 1/2 0 0 0 0 329 C JUN97 45.000 15/16 7/8 1 1/8 -5/8 15/16 15/16 10 2182 C JUN97 50.000 3/16 0 1/4 0 0 0 0 929 P JUN97 30.000 1/8 0 1/4 0 0 0 0 120 P JUN97 35.000 3/16 0 1/4 0 0 0 0 75 P JUN97 40.000 7/16 0 1/4 0 0 0 0 701 P JUN97 45.000 1 1/4 1 1 1/2 0 0 0 0 1910 P JUN97 50.000 6 3/4 4 5/8 5 1/8 0 0 0 0 813 Sure seems like a "buldge" in June 45 puts and calls. Does the above imply that on Friday, the MM's will try and drive for a $45 price close. I have been watching CIEN for about a month and watching these puts and calls at the same time. Slowly but surely it keeps heading for 45. BTW, I don't really have a clue as to how MM's manipulate prices but I will get to learn that from you guys as well as time goes on. Thanks in advance. Believe me I am trying to learn. Any comments on the above and a prediction of a price of other than 45 on Friday close. Thanks Bob Trocchi P.S. I to follow the VVUS thread but with more time on my hands than ou folds, I find it a blast. The Tuna is a lot of fun as long as you don't take him seriously. Appreciate both of you with your posts and insight.

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