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Non-Tech : Iomega Thread without Iomega

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To: Jock Hutchinson who wrote (6745)	1/25/1999 4:12:00 PM
From: KM	Read Replies (1) of 10072

From Street.com "Options Buzz": Iomega (IOM:NYSE) saw some continued put action in its further-out strike prices after the company announced last week that it made a profit in the fourth quarter, reversing a losing trend. A hefty 10,020 contracts in the company's March 5 puts moved at 3/16, or $18.75 per contract, against no open interest. The puts looked to be going out under buying pressure, indicating hedging or a bet that the stock will turn south within two months. Last week, investors drove huge volume in the company's May 7 1/2 puts, eventually amassing more than 32,000 contracts in open interest. Iomega's stock has been on a downtick for the past several trading days and reached 7 3/4, down 3/8 today.

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