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Strategies & Market Trends : Value Investing
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To: Grommit who wrote (11466)11/23/2000 1:06:55 PM
From: Allen Furlan  Read Replies (1) of 78688
 
Grommit, I like nsm as well. I bought at 21 and sold vsnar at 2/1 ratio, bringing cost down to 16 7/8. The 2003 leaps at strike of 90, at 2 1/16, are too pricey in my opinion and writing calls at 2/1 ratio has no meaningful upside risk and 20% downside protection. Lots of room for stock to move up in next 2 years. For another idea you might consider a covered call(leaps) on icix. With wcom buyout very highly likely you will get 1.18 shares if merger completes. Selling vljad calls and you in at about 10 on icix and your downside will be safe until 10/1.18 or 8 1/2 on wcom.
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