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Technology Stocks : Ciena (CIEN) -- Ignore unavailable to you. Want to Upgrade?

To: professor who wrote (3467)	9/22/1998 2:17:00 PM
From: gbh	Read Replies (2) \| Respond to of 12623

Anyone has any idea the impact of the repricing of the options at $12.375. I thought the stock price would face some resistance at that level given the potential overhang of the stock option exercise. Any thoughts and insights would be appreciated. Professor, it's not likely this price has any significance as far as resistance goes. This is just the price at which the option begins to have greater than 0 value. Also, its not likely that all the employee options are immediately vested. The vesting period can range 0 months to maybe 24 months, sometimes even greater for executive with significant option grants. Resistance is hard to gauge right now. First minor resistance appears to be around the 13 level. Next resistance is probably in the 18-19 range. Its very hard to quantify, given the rapid descent. But one thing appears clear now. A first bottom was put in at 10 3/4-11. This represents support now. I expect we may test that one more time, before settling into a trading range for a while. Today's action, so far, is positive though. Value buyers seem to have the upper hand. A close at or close to the day high would even more positive.