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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Gary Korn who wrote (33061)	2/3/1998 12:13:00 PM
From: username	Read Replies (3) \| Respond to of 61433

<I'm at a loss to figure why.> I had the same confusion about a year ago. It was baffling until I understood that the guy that exercised is not the guy that bought the puts. The OI (open interest) is just a big pool; most firms that get the exercise order just assign it at random. If you were the only seller, (for example), at the firm where you sold the options, and somebody in the pool (somewhere else on the planet), decides to exercise, and the OCC calls your firm for the fill, (at random), then you're it; the stock goes to you. If it were light OI and you really were the only guy at your firm that had the open sell position, and then got hit 2 months in a row, (which I have seen !), then you might start feeling paranoid. You don't know what the guy paid or when he bought 'em, it could have been 2 weeks ago. What's his motive? No way to tell. That said, it is odd that it would occur, but I've seen all kinds of weird stuff happen in the options market, and this is one. Ya lowered yer cost basis, I assume, and the deal is goin' above 33, IMHO, so pony up the cash ! <ggg> :o) pete