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Technology Stocks : Ascend Communications (ASND)
ASND 212.33+1.1%Nov 28 9:30 AM EST
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To: Paul M. Rengier who wrote (32880)2/2/1998 2:06:00 PM
From: thebeach  Read Replies (2) of 61433
 
I will take a stab at that one.This is only my opinion.The puts that were taded were a person or group for that matter that are very bullish and they,he ,or she sold the puts expecting the stock to never again see 30.This is a very safe way to take in premium and offset your cost.Someone correct me if I am wrong in my theory,thanks.It looks like the March 30 puts were traded so that means someone bought which was probably the MM and the price was 2 and about a half.Therefore 1000 times 100=100,000 shares worth of options were traded.Someone sold the right to sell ASND at 30 dollars per share until the third friday in March.If the stock stays above 30 between now and then the option is worthless and the seller keeps the money.
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