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Technology Stocks : Ascend Communications (ASND)
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To: mdvestor who wrote (38825)3/11/1998 7:57:00 PM
From: Chris Ariens  Read Replies (2) of 61433
 
Hi, everyone

I've been lurking on this thread for several months and finally got the opportunity to try posting. I am aspiring to become a professional options trader :). I'd like to say thanks to all of the regular contributors for posting valuable information about one of my favourite holdings. I have found the information provided here is more up-to the minute and insightful than the regular business media.
The options open interest theory is a very interesting one. Already it looks like there is very strong pressure from both call writers and put writers to keep ASND very close to 35 at Mar expiration. Given that, what would be the best option play (using long positions only) to take advantage of that fact.

As for myself, I like the April 40 calls now. Gives an opportunity to cash in on any pre-earnings run-up. I bought some today while ASND was on its way down, and may buy a few more if the price drops below 34.5 before March 20.

I've been very successful (and lucky) buying calls on ASND - one of which was the March 35's, which I bought at the end of January and sold off today just before the high. But now, I need more than luck, I need a miracle to get any return from the March 45's I'm sitting with.

Is anyone else out there using options to leverage your investment potential, and any other thoughts as to what types of manipulation the MM's are involved in. Personally, I think the March 35 calls are artificially high right now - with 7 days left, they should be closer to 7/8 or 1. (an attempt to lower OI perhaps?)

Chris
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