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: john dodson who wrote (5548)	11/21/1998 10:00:00 PM
From: Ilaine	Respond to of 12623

John, thanks for intelligent posts. I too, am long CIEN, bought it for the technology, from what I can understand they make good products, and it was selling cheap, at least compared to its high. I have to admit, it was an impulse buy, not based on valuation calculation. I usually don't read stock threads but I do check in for news. I was surprised to see how much volume Ciena had Friday, which caused me to check here. Also Yahoo, Motley Fool and Raging Bull threads, talk about a waste of time! Again, thanks. CobaltBlue

To: john dodson who wrote (5548)	11/22/1998 1:14:00 AM
From: Scott Bergquist	Respond to of 12623

"Options Manipulation" Eh, .. I just was too cryptic with my writing. The comment was something like, " since options were expiring, the price of the stock itself jumped because the option expired that day.." What I was trying to say was..if the rise in price was a function of option expiration, i.e. if the price move was an attempt to somehow affect the price of the option on the last day to trade the option, you would see a price of the stock hovering around the strike price, NOT around 18 to 18 1/2. Some people with guts bought the 17 1/2 Nov Call at 1/16 Thursday, to see it ultimately get about six times that price one day later!! In October, AMZN hovered around 100 all day (101 to 97) on the last day to trade options, hosing down the puts AND calls at 100 with equal gusto. I would characterize THAT price action as stock price manipulation seeking to snuff option holders. I was trying to say, CIEN price for Friday was NOT the type of move characterizing an option-expiration move. More to the Ciena story than that, I believe.. (whew!)