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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 76.45

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To: jach who wrote (20162)	12/28/1998 8:46:00 AM
From: Zoltan!	Read Replies (2) of 77400

Cisco Systems Inc. The Wall Street Journal -- December 28, 1998 Technology Issues Continue to Steal Spotlight In the Options Market Amid Bargain Hunting ---- By Eric Weiner Dow Jones Newswires NEW YORK -- Technology issues dominated the options markets again in preholiday trading Thursday, as investors remained hungry for relatively cheap ways to pick up the hottest stocks in the country. During a shortened trading session at the Chicago Board Options exchange, Cisco Systems Inc., International Business Machines and America Online Inc. were among the most active call and put contracts. "People can't seem to get enough of these guys," said a trader at the CBOE. "Technology is where everybody wants to be it seems." Cisco in particular was in heavy demand. The firm's January 100 calls were among the five most active calls at the CBOE, and its January 85 and 90 puts as well as its February 85 puts were among the exchange's five most active puts. The action continues a weeklong trend in which technology contracts have been in heavy demand by individuals and institutions. A CBOE trader said Salomon Smith Barney crossed a large block of Netscape Communications Corp. February 70 put options to hedge some stock the firm bought earlier in the session. Put options give investors the right to sell the underlying shares for a set price by a certain time. They often are used to play bearish speculation in the stock. In this case, the trader said Salomon is using the bearish contracts to offset any possible risks from a bullish position in Netscape stock. Netscape shares declined 7/8 to 58 11/16 Thursday. One trader at the American Stock Exchange said he welcomed the quiet trading floor. "You've heard of the calm before the storm, well this was the calm after the storm," he said. "The last few days have been crazy for me; I can use the break." interactive.wsj.com

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