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Technology Stocks : Ciena (CIEN)

CIEN 188.78

+1.0%

Nov 19 4:00 PM EST

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To: VBroady who wrote (4193)	10/9/1998 12:12:00 AM
From: Gary Wisdom	Read Replies (3) of 12623

CIENA OPTIONS ALERT Very interesting trading going on today in Ciena. This morning, when Ciena traded @ $8 1/4 or so, someone bought 600 of the October 15 calls @ 1/8. One lot of 500, the other 100 15 minutes later. Either there is one incredibly optimistic unsophisticated investor out there that doesn't mind pissing away $7,500 in the hopes the stock will double in 6 days OR there is a professional out there that wants a cheap way to buy an extra 60,000 shares without putting any money up front, knowing that there will be news that will move the stock very, very soon. Of course, it could be either. But since there was no bid on the calls all day, it was not the market makers giving someone an 1/8 for them. Someone bought them. And keep in mind that you could have bought 1000 shares at $8 and made $7000 on them if you really thought the stock would be at $15 next week. Same thing, much less risk. Hmmmmm. Good luck to us all. <ggg>

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