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Strategies & Market Trends : Position Trading Forum -- Ignore unavailable to you. Want to Upgrade?

To: DO$Kapital who wrote (4979)11/2/1998 7:54:00 PM
From: Tim Luke  Respond to of 7247
 
Implied volatility in Ciena Corp. (Nasdaq:CIEN - news) options shot up to around 120 to 130 percent in heavy trading. Calls were active, with traders unable to explain the activity or the 4-5/8 rise in the stock to 21-13/16.

''Some people might be talking takeover again...but it looks like a dead cat bounce to me,'' a trader said. ''The stock was oversold and people now have cash. It was a 90-dollar stock and now it's 20. People probably figure, why not take a shot?''



To: DO$Kapital who wrote (4979)11/2/1998 9:54:00 PM
From: Jim Ray  Read Replies (1) | Respond to of 7247
 
Just4,

Some advice from an old man: If you have a choice between "good" and "lucky", pick "lucky". <GGG> Seriously, I didn't have a clue that it would jump this much. I just thought that if they were to buy back stock this week, it would raise the price some. I am as shocked as everyone else!
Jim


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