Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Scott Bergquist who wrote (5542)	11/21/1998 8:35:00 PM
From: john dodson	Read Replies (2) \| Respond to of 12623

Scott, I don't recall "options manipulation" being cited as a cause for Friday's spike in CIEN volume. Options expiration is what I recall. Options expiration is just that -- options expire that day. That means the expiring options are either exercised or they expire worthless. When they're exercised, shares are actually exchanged between exerciser and whoever's "randomly" assigned for exercise. Also, closing at a specific strike price is also not necessarily the end result of an options-heavy trading day, although that does happen. I do concede that these "takeover" rumors combined with the options expiration played a part in the huge volume. As for the "no news on the wire", what I meant by that was apparently misunderstood. Clearly mergers do not proceed with news posts at every juncture in the proceedings. However, you don't usually get 15 million shares traded on a "takeover" rumor that doesn't even hit the news wires. Typically, I've seen wire releases like "XYZ at Merrill says that Ciena talks are serious again..." or something to that effect. I saw no such news on any of the stock news services on Friday. Doesn't mean it ain't happening. That's just my observation. Good luck, John Dodson Long on Cien