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Electronic structure calculations for compressed molecular hydrogen areperformed to provide more insight into the diversity of phenomena recentlyobserved experimentally. We perform full-potential LAPW calculations andanalyze them in terms of a molecular tight-binding model. We show that $\sigma_g$ and $\sigma _u$ bands overlap occurs at rather low pressure, while aninsulating state persists at specific orientations up to 200 GPa, in accordwith previous work, and is due to opening of hybridization gaps at the Fermilevel. We also present calculations of electronic properties such as plasmafrequencies and electron-vibron coupling.Comment: 4 pages, RevTex, 4 figures uuencoded p

Insulator-metal transition in solid hydrogen: Implication of electronic-structure calculations for recent experiments