Novell (NOVL) dirt cheap, good buy? Message Board

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Technology Stocks : Novell (NOVL) dirt cheap, good buy?

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To: Steve Fancy who wrote (14169)	6/26/1997 2:53:00 PM
From: E_K_S	of 42771

Did you notice the large Open Interest positions on the August $7 1/2 and $10 calls. It's almost 20 times larger than July at about 25K contracts total ( 13,996 @7 1/2; 11,820 @10). For the same contract pairs January 1998 only shows 15K contracts. Do you think something might be up by third Friday in August? I bought some of the August 7 1/2 calls rather than the stock at this level. I plan to do a day trade on any positive rebound in the stock back to $7. Cost to establish a 25 contract position $972.50. My only observation is that OUR NEW 52 WEEK LOW TODAY <UG!> was on LOW VOLUME. Although there are very few buyer's at these levels (no new news), it seems that most all of the large sellers are out too. Maybe those shorts might want to cover at these prices...that might move the stock higher in the short term. EKS

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