Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 208.98

-1.8%

Dec 26 9:30 AM EST

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To: Finder who wrote (9068)	8/17/1997 5:59:00 PM
From: Glenn D. Rudolph	of 61433

The individual stock options do not cause major sell or buy order on close imbalances, it is the S&P 500 options, or the MS tech index etc that cause the end of day phenomonon. Finder, I am just trying to clarify my understanding. I read what you wrote three times and have one last question. The index options expire on the Thursday prior to the Friday of equity options. The settlement of index options is cash as you stated. The index option holders receive the cash on Friday and the writers give up the cash of course, depending if the index was in our out of the money. Now we have indexes across the board that went up during the moneth in questions. Calls bought are in the money and let's say the market maker is short. The market maker must supply the value of the option to the holder on Friday. If there had been selling to stop this loss to the market maker, would it not have occurred on Thursday and not Friday? As you can see, I do not understand. I am trying, however. Glenn

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