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Strategies & Market Trends : Giant LEAPs...
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To: HC who wrote (141)5/8/1997 9:23:00 PM
From: William H Huebl   of 315
 
Hi HC

I was trying to get the 37 1/2 calls for 1/4 today... that is what they will be worth Monday if MCIC goes down to support at 37 1/4. It may go lower, however, and spring back.

Tomorrow I will try at 1/8th... thinking it will test the 7% envelope to the 144 time series MA as it has been doing over the past several months. If it gets as low as 35... that would be the right strike to buy... but it would probably cost you at least 1/2... maybe even 1.

Remember, a week before expiration you want CHEAP, NEAR and at support or resistance... depending on whether you are going after calls or puts respectively.

Regards,

Bill
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