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Technology Stocks : MRV Communications (MRVC) opinions? -- Ignore unavailable to you. Want to Upgrade?

To: Greg h2o who wrote (17848)	12/30/1999 2:28:00 PM
From: James Calladine	Respond to of 42804

12/29/99 - U.S. Options -MRV Comms vols still up, volume high ------------------------------------------------------------ CHICAGO, Dec 29 (Reuters) - Implied volatility stayed high on Wednesday in MRV Communications (MRVC.O) options, where turnover remained hefty as the stock spiked up to another new 52-week high. Implied vols for the January 65s stood near 110 percent, up from about 100-95 percent for the front months. "They've been pretty high, but they're up about 10 percent from where they were, mostly in the front months," Michael Young, a market maker with Pyramid Trading at the Chicago Board Options Exchange, said of implied vols. The stock's one-month historical vol was about 156 percent, having risen since mid-December when the stock's rise accelerated after Barron's magazine said a York Capital Management fund manager said MRV may set a public offering for its optical access business and may get a high-profile chief executive. But Young figured the recent increase in options activity stemmed more from perceptions that the stock was simply a momentum play, rather than from expectations of impending news. The stock traded near 21 two months ago. "We just feel like it's the momentum players," he said. Options volume on Wednesday stayed beefy, with about 2,150 calls and 575 puts traded by midday on the three exchanges combined. That was about 2-1/2 times the more-recent daily turnover of around 1,025 contracts and already topped Tuesday's 2,480-contract total. Volume had been "probably about one-third of what we're doing," Young added. Busiest on Wednesday were the January 60 calls, which rose 5-1/8 to 12 on the Pacific Exchange, on interexchange volume of 596 and open interest of 1,038. The January 65 calls, which gained 4-3/4 to 9-1/2, had combined volume of 365 compared to 921 in open interest. Shares of the California-based networking equipment company were up 5-15/16 at 65-3/8 on Nasdaq market volume of 2.1 million, after backing off from a new 52-week peak of 71-5/8. REUTERS Rtr 13:38 12-29-99