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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 76.31

-1.6%

2:45 PM EST

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To: craig crawford who wrote (16115)	8/18/1998 5:25:00 PM
From: John Carragher	Read Replies (1) of 77400

The surge in Cisco Systems Inc.'s stock prompted bearish traders to cover short positions in the August 100 call. The contract gained 11/16 to 1 9/16 on composite volume of 8,734 contracts, compared with open interest of 20,309 contracts. A Cisco options trader expects the stock will now trade around 100 because the stock tends to trade at the options strike price that has the highest number of outstanding contracts.

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