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

To: Klaus who wrote (44747)	4/17/1998 3:25:00 PM
From: Sowbug	Respond to of 61433

I hold the Jan 99 25 calls for ASND - good volume today ... 110 contracts traded - wonder why the volume on these would be so high today - any takers? Klaus, this is just a guess, but is the volume on the day before expiration (i.e., e.g., today) always higher than normal? As Glenn Rudolph noted a few weeks ago, the premium drops significantly between today and Monday for all options, so it makes sense that some guy who wants to sell calls but was holding out as long as possible would wait until today. I'm assuming the person was already long the calls because they're so in the money that you'd be crazy to open new contracts now. So I see it as a cautiously bullish move by somebody who now wants to move his money somewhere else.