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

To: Tom Aellis who wrote (5915)	12/15/1998 3:20:00 PM
From: David Harker	Respond to of 12623

Yeah - I hope they know what they're doing! My cost is $27.7, $30+ sounds real good...

To: Tom Aellis who wrote (5915)	12/15/1998 4:28:00 PM
From: Matt Webster	Respond to of 12623

To: Tom Aellis who wrote (5915)	12/16/1998 7:28:00 PM
From: Scott Bergquist	Respond to of 12623

2700 contracts (calls?) at 30.. I don't this bodes well. When Ciena was trading around 27-35 after the ".8 shares" renegotiation, someone opened about 3-4000 NEW open interest contracts on CIEN, for Sept 30 or 35(?) calls. Then a few days later, the damn thing sunk to 21 instantly on another lost contract. I think in that case it was smart money taking sales money on naked call sales. Remember, it depends on WHY there are new contracts. And right now, I think a lot of MMs wish to get back the blood they lost in August. It could be naked calls again...