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Non-Tech : Any info about Iomega (IOM)?
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To: Stephen Blumenthal who wrote (7063)9/13/1996 4:47:00 AM
From: Roland Fehrenbacher   of 58324
 
Re: Why is the stock going down?

In my opinion the reason is clear market manipulation because of option expiration Friday next week. There is a huge open interest (12000 and 13000 contracts respectively) on both Sep 15 calls (IQGIC) and Sep 15 puts (IQGUC), so the option writers want to make sure the stock price will end up at 15 next Friday. Every point below or above costs them 1.25 Mio $.

Check the recent closing prices of IOMG at option expiration Fridays.
What you find is that it always closes on or very close to a strike
price. Examples: June 21, closing price 30, July 19 closing price 22.5, August 16 closing price 15, and very likely Sept 20 will have a closing price of 15.

Bottom line: Unless some major positive announcement happens before Sept 20 the price will remain below 15 until then. It should go up from there, if not I would really get worried.

Roland
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