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Technology Stocks : Lucent Technologies (LU)
LU 2.550+0.2%3:59 PM EST
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To: Lee Ring who wrote (7411)4/16/1999 5:03:00 PM
From: stilts  Read Replies (1) of 21876
 
Options expiration is what hit csco and lu and ibm, etc. As someone previously reported here, the max pain points on those stocks were, approx, 90, 50, and 170, respectively. The option writers probably had to short a lot of csco and lu to deliver on the calls they were short, so I wouldn't be surprised to see them try to keep the stock prices down for a few days so they can cover their shorts.

stilts
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