Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 212.50

+1.5%

Dec 24 12:59 PM EST

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To: Carl R. who wrote (8292)	8/10/1997 6:38:00 PM
From: vegetarian	of 61433

>>That is the effect that drives the stock towards the price at which the stocks expire.... From your earlier explanation I thought the underlying stock for those option (call) positions that have been bought back (closed) by the writer is sold (which drives the price down before expiration)since there is no need to hold it anymore. For those options written that are still open (neither bought back nor exercised) one is not sure until expiration if they would be closed so any action on the stock held against which they are hedged could be taken only after expiration and I was referring to those options that expire worthless (that stock would be traded only after expiration and whether one could predict which way it goes based on the open interest in calls and puts at expiration).

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