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: vinod Khurana who wrote (16460)	8/26/1997 4:56:00 PM
From: Elmo Gregory	of 42771

V.K. - ``There's been an explosion of orders,'' one options trader said of the Novell activity. ``Everybody is speculating.'' Tuesday August 26 3:47 PM EDT US OPTIONS FOCUS/Speculators rush into Novell CHICAGO, Aug 26 (Reuter) - Rumors that International Business Machines Corp (IBM) may be interested in Novell Inc (NOVL) drove speculators into Novell options Tuesday, traders said. Neither company would comment about the rumors but Novell gained 1-1/8 to 10-1/8 on 29.4 million shares by late trading. IBM was down 1-5/16 at 103-11/16. ``There's been an explosion of orders,'' one options trader said of the Novell activity. ``Everybody is speculating.'' He added that most of the action was from retail investors. Activity was led by the September 10 calls, which traded more than 10,400 contracts. The November 10 calls traded nearly 6,200 contracts and the January 10 calls traded 2,965. Among Novell puts, the September 10 was most active, with about 1,045 contracts changing hands. Implied volatility in the Novell September options was in the 70-80 range, up from a recent average of around 57. Volatilities in the October and November series ranged from the mid-60s to the mid-80s. biz.yahoo.com Elmo

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