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

To: Gary Wisdom who wrote (4195)10/9/1998 12:51:00 AM
From: Bald Man from Mars  Read Replies (2) | Respond to of 12623
 
I agree with you, a total of 991 contracts traded for the
Oct 15 ... consider going from 8-1/4 to 15 is
almost a double in a week ... is this dude's 7500 going down the
tube, or does he know something we don't ...
may be he is betting we will get to 12 or 13 in a couple of days,
then the option will trade at 1/2 or so ???

May be someone sold a covered call and just buying it back to
close the position, but he can let it expire next week ???



To: Gary Wisdom who wrote (4195)10/9/1998 11:59:00 AM
From: Peppe  Read Replies (1) | Respond to of 12623
 
Gary,

Could there be an acquisition announcement over the week-end ? I don't think a contract would necessarily make this stock double in a weeks time.

Should be a fun week next week !!

Peppe



To: Gary Wisdom who wrote (4195)10/9/1998 4:57:00 PM
From: gbh  Read Replies (2) | Respond to of 12623
 
Whoever bought those options is probably just hedging against a huge short position that he does not want to pay taxes on this year by covering.

Much more logical than some idiot pissing away $7500 in hopes of a double by next week.


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