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: dwight vickers who wrote (22000)	5/13/1998 4:26:00 PM
From: Ben Antanaitis	Read Replies (2) of 42771

From this evenings theStreet.com: The options of Novell (NOVL:Nasdaq) were jumping for the second day in a row, and at least one option pro said he smelled a rat. More than 13,000 option contracts moved yesterday in the usually quiet stock, with almost half of them in the soon-to-expire May 10 calls alone. This morning, Merrill Lynch upgraded the stock to a near-term accumulate from neutral, sending the stock up 1/2 to 11. Activity today also was heavy in the May 10 calls, with 3,000 contracts moving at 1, or $100 per contract. "This is obvious front running," claimed one options pro, requesting anonymity. "Someone tipped off these buyers to the stock upgrade." He indicated option traders are likely selling today what they bought yesterday. Is anyone here surprised???????? Ben A.

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