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Technology Stocks : Lucent Technologies (LU)

LU 2.650

+0.4%

Dec 26 9:30 AM EST

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To: Dave who wrote (18536)	8/1/2001 9:00:31 PM
From: Gary105	Read Replies (1) of 21876

Its win-win re. convertibles. Yield of 8% increases to over 40% for hedge funds who arbitraged by shorting equivalent number of shares assuming conversion: 8%/(7.48 - 6) = 40+% Given 1.75 Billion offering, amount of stock to be shorted is about 230 - 240 million shares. Look for shorting to continue tomorrow - I added to long position today.

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