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

To: LiveWire who wrote (3622)	9/23/1998 6:46:00 PM
From: John M. Gelnieau	Read Replies (1) \| Respond to of 12623

U.S. OPTIONS/VIX slides, market awaits Greenspan September 23, 1998 06:08 PM CHICAGO, Sept 23 (Reuters) - Options on Ciena Corp. CIEN , the former merger partner of Tellabs Inc. TLAB , drew heavy interest as rumors of an impending takeover lingered. The stock eased 11/16 to 14-7/8 and implied volatility on Ciena options tumbled to around 100 percent from about 130 percent in recent weeks in brisk trading. "There are a lot of call buyers...people trying to take a cheap shot. Ciena was a $90 stock two months ago," said one options analyst. "People were panic-selling (the stock) all the way down and now they're trading it like a commodity," he added