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Technology Stocks : Qwest Communications (Q) (formerly QWST) -- Ignore unavailable to you. Want to Upgrade?

To: Howard Hoffman who wrote (1054)4/1/1998 2:17:00 AM
From: Phil Jacobson  Read Replies (1) | Respond to of 6846
 
Is there any way for you to tell how long the imbalance has existed, ie, did it just arise or is it a few days old? A week? A month or more?

On the surface it's definitely indicative of expectations of a correction. I've never looked at QWST options before so I can't put this into any context though. QWST has always been perceived as one of the most "overvalued" stocks out there so has always generated a lot of negative speculation just on that basis alone.

It could also be related to the Lehman downgrade of the CLECs (the guy at Lehman is a beancounter and was attacked immediately by Bear Stearn and Merrill Lynch). Then again, remember what happened when that analyst did the BW write-up that caused a large correction? If the imbalance just appeared it could be a pending downgrade.

Phil



To: Howard Hoffman who wrote (1054)4/1/1998 9:11:00 AM
From: SJS  Read Replies (3) | Respond to of 6846
 
Yes, I've seen it before with other stocks. I wonder what model you use? Are these the closing prices, or are you doing your computations with the bid/ask (you should use the bid prices...) during market hours?

You may be seeing stale quotes as the problem sometimes occurs with non heavily traded options that the closing prices are older that current bid/ask if they don't get traded for a few days.


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