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Non-Tech : Any info about Iomega (IOM)?
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To: Kashish King who wrote (7397)9/22/1996 6:07:00 PM
From: Mama Bear   of 58324
 
I am not saying that it will tank, this is actually the first expiry
that I have known the number of shares called. I would assume that all
(or most) of the put sellers have hedged by selling short, therefore put
sellers won't be selling, but using the shares put to them to cover. Of
course, they will probably sell more puts, and therefore sell short (hedge).

Just trying to understand this market mechanism, that seems to effect us
so once a month. I am not aware that those who buy calls hedge. It seems
a straight up gamble that these people enter into (at least that's my view
when I buy calls). I always sell my calls well before expiry, so I'm not sure
what the people who were holding will do Monday AM. But I do think it logical
that they will sell.

I also mentioned ~2 1/2 million shares getting called, this included 17 1/2
strike. Will these people exercise? This represents ~1 million of the
2 1/2 million shares. I guess I was hoping that someone with a better
understanding would comment on this issue.

Barb
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