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Technology Stocks : Lucent Technologies (LU) -- Ignore unavailable to you. Want to Upgrade?

To: CHUBfitz who wrote (1034)	11/22/1997 6:51:00 PM
From: elmo north	Read Replies (2) \| Respond to of 21876

They had an article in Bloomberg preview about someone saying it may have to spend some time in the mid 60's. Did anyone see that article. I believe it was in monday's evening preview.

To: CHUBfitz who wrote (1034)	11/23/1997 12:28:00 PM
From: Greg Jung	Respond to of 21876

CHUB, LU has had a lot of option speculation, has not been one that attracted a lot of puts, so options expiration put sell pressure on it (when you cash in your option, the buyer shorts stock to have a zero delta). With no other significant news to move it, this volume can then bring a dominating price swing. See reply 979 where I mentioned the bias towards 80. Also known as the principle of maximum pain. Never rely on it, however, I myself believe the stock is fully valued and more. But compared to Rambus(120x'99earnings) it is cheap!