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Technology Stocks : Novell (NOVL) dirt cheap, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: Paul Fiondella who wrote (22825)	6/22/1998 1:42:00 AM
From: Don Earl	Read Replies (1) \| Respond to of 42771

Hi Paul, On option speculation; wouldn't there also be an equally strong possibility of covered calls being exercised and delivered to folks that may not want to own the stock or that may be forced to sell because of margin calls? Not being a bear, just playing devils advocate. Regards, Don

To: Paul Fiondella who wrote (22825)	6/22/1998 6:42:00 AM
From: Ben Antanaitis	Read Replies (1) \| Respond to of 42771

Paul, Those caught short, Will need to buy NOVL today. the brokerage houses or whomever has gotten the exercised shares are going to be looking to make some upside money. Not necessarily by holding the stock. They already have a profit in hand, as long as the price is over 12.5. They can, and usually do, dump the shares and take the 'in hand' profit. Thay are not investors, they are traders. They will 'turn-around' a stock for as little as 1/16 because they have such favorable transaction expenses. So, the question is 'what is the buy/sell balance' for today? There is another long standing saying on Wall Street "down on expiration day, up on Monday" and the converse "up on expiration day, down on Monday". Ben A.