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Non-Tech : Iomega Thread without Iomega -- Ignore unavailable to you. Want to Upgrade?

To: Cameron Dorey who wrote (3038)	11/3/1998 2:25:00 PM
From: KM	Respond to of 10072

IOM option action: (from street.com) In the case of Iomega, the once-legendary stock was dancing on the grave of competitor SyQuest (SYQT:Nasdaq), which said yesterday it may file for bankruptcy and was suspending operations. That was enough to drive Iomega, the maker of the high-density, portable Zip and Jaz disk drives, up 1 3/16 to 6 15/16 by lunchtime in New York. What followed the equity's performance was big volume in the company's calls, which have extremely deep open interest. The price of the November 7 1/2 call option rose 3/8 ($37.50) to 7/16 ($43.75), the kind of return that probably had the traders who held some of the 14,000-contract open interest more than happy to cash out. Still, buyers were hungry for the play and drove volume to almost 5,000 contracts by midday.